GVT - Currently down trending and yet to bottom out, possible bottom is the 10k area. GVT is respecting confluence zones, has bounced off previous ones as show below in this description, Ladder buys between the 10.5 and 10k area with a stop loss set at 9887 Sats, possible target is the 11.5k area
MACD is Bearish
RSI is the middle
50 MA is above price
Look at the RSI when it hits the confluence zone (double top)
The confluence zone found the next bottom perfectly and again when it hit the confluence zone the RSI made bearish divergence (double top with price decreasing)
MACD is Bearish
RSI is the middle
50 MA is above price
Look at the RSI when it hits the confluence zone (double top)
The confluence zone found the next bottom perfectly and again when it hit the confluence zone the RSI made bearish divergence (double top with price decreasing)
Trade active:
Price retraced to 9950, 50 sats short of the predicted area... the predicted retrace zone is 11133, with minor resistance at 10947, price could retrace back to the 16000 level but i don't think this is likely, in saying that though, a .382 and .618 confluence hold more weight than a .5 and .382 (in my experience)
Price retraced to 9950, 50 sats short of the predicted area... the predicted retrace zone is 11133, with minor resistance at 10947, price could retrace back to the 16000 level but i don't think this is likely, in saying that though, a .382 and .618 confluence hold more weight than a .5 and .382 (in my experience)