GVT/USD Bullish Divergence, Cup and handle.

GVT has remained one of the strongest performing coins in all of crypto in the entire correction. As you can see, it's continued an up trend. GVT is a low circulation coin and has a lot of potential. As seen here, the cup and handle formation is about as perfect as it gets albeit the handle is a bit longer than I'd like to see. That said, we're on the .618 retrace from the last truncated wave and if correct, the ending diagonal should walk up the yellow trend line and break out above the falling wedge (Light blue lines). This is a signal for a VERY strong trade and the patern suggests an increase to $70. That's 350% proffit potential!

I'd like to point out while BTC rallied from $6k to nearly $12k (nearly a 100% increase) GVT performed with a 500% increase in the same period. I see no reason to expect less from this strong asset in the next move up while it continues its uptrend while the rest of the market capitulates. Give this trade some time but should this hold trend at the yellow line and break above the falling wedge, GVT is positioned for some fantastic gains!

Comment:

I'd like to add, should this fall below the yellow trend line and find support on the .786 fib, this signal remains valid but with a target of $65

Comment:

We can see GVT has broken below the .618 fib and is headed for the .786. This isn't at all abnormal for a wave retrace and is why we're waiting for a break of the light blue trend line falling wedge for a strong trading indication. I'll continue following this trade closely for further developments! For now it looks to me we're in for better buying opps for this fantastic alt!

Happy trading everyone!

Comment:

So we can see GVT has fallen to the .786 retrace and has found support with signs of a move up and a break of the wedge. This is a strong location for a solid hold.