NeoTidus

TECHNICAL ANALYSIS OF GIFTO- GTO/BTC 1D

BINANCE:GTOBTC   Gifto / Bitcoin
This one is somewhat of a head-scratcher. There are a couple of options we have and I have highlighted what I think are the two most likely.

1st: Is that we are going into the 3rd or a series of elliott waves . This can somewhat be supported by an extremely ugly inverse head and shoulders (if you can even call it that) and that the stoch is showing signs of a potential runup as it is at the same level as the other times there have been runups (look at the red outlined circles). This would be fine and dandy, but if you take a peek at the volume levels, you will see that there is no real change as compared to the other times big runs happened.

2nd: Ultimately, I think that because of the way the volume is acting and what I think people are mistaking to be an inverse h&s signal, that this is not going to be a runup, but instead the price will fall into the ascending triangle outlined by the blue arrows.

Stop Loss Signal: A close above the 68 EMA (white line on the guppy).

Remember, don't drink and trade...always ask someone to hold your beer first!

DYOR and goodluck!

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