I'm sorry for the bottom that I called (21000-23000) has been breached as I never expected upbit fud will happen (duh i'm not a prophet for this).
So, back to the topic, from the daily timeframe, we can see gvt bounces at 20500-21000, which is kind of close to my bottom LOL, anyway I'm still wrong (500sats away). Thus, 20000sats is a very strong support zone for now despite the ongoing fud.
On the 1hr timeframe, i have come out with 2 scenarios, the above is the one I'm more biased on, I will still post the other in the comment section. Based on the scenario above, we have just finished 5 wave and we are now in correction, the greenbox is the most likely place for a bounce. RSI is decreasing, this indicates the bull has exhausted on the previous run.
So, back to the topic, from the daily timeframe, we can see gvt bounces at 20500-21000, which is kind of close to my bottom LOL, anyway I'm still wrong (500sats away). Thus, 20000sats is a very strong support zone for now despite the ongoing fud.
On the 1hr timeframe, i have come out with 2 scenarios, the above is the one I'm more biased on, I will still post the other in the comment section. Based on the scenario above, we have just finished 5 wave and we are now in correction, the greenbox is the most likely place for a bounce. RSI is decreasing, this indicates the bull has exhausted on the previous run.
Comment:
www.tradingview.com/chart/kiZkGs05/
Comment:
^the above chart is my 2nd scnario, chances of this happening is slim as the volume and rsi is decreasing in higher timeframe.