After its initial run, Genesis Vision GVT/BTC with a peak at 0.0032333, has now formed a flag.
As you can see it has found very nice support at the lower trendline, touched three times and still above the 50 ema so still in an uptrend. If this support holds then a touch of the upper trendline is to be expected, which will be the first target to reach.
The last time the hourly RSI was this low, it made the jump of 79%. Can't see it will do it again right away just after such a huge spike but there's enough room for growth for both the RSI and MACD indicators. The only thing it needs now is some volume and news/hype to move up again.
Trade Instructions:
Buy Area:
0.0025430 - 25900
Profit:
1. 0.0027378
2. 0.0029428
3. 0.0032298
Stop:
0.0024749
This is intended to be a day trade but if you believe in this coin for the longer term, then obviously you can hold it longer and can leave out the stop loss if you want to.
Please like and share if you found this informative and helpful.
And good luck trading!
As you can see it has found very nice support at the lower trendline, touched three times and still above the 50 ema so still in an uptrend. If this support holds then a touch of the upper trendline is to be expected, which will be the first target to reach.
The last time the hourly RSI was this low, it made the jump of 79%. Can't see it will do it again right away just after such a huge spike but there's enough room for growth for both the RSI and MACD indicators. The only thing it needs now is some volume and news/hype to move up again.
Trade Instructions:
Buy Area:
0.0025430 - 25900
Profit:
1. 0.0027378
2. 0.0029428
3. 0.0032298
Stop:
0.0024749
This is intended to be a day trade but if you believe in this coin for the longer term, then obviously you can hold it longer and can leave out the stop loss if you want to.
Please like and share if you found this informative and helpful.
And good luck trading!