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!
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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
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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!
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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.
hey i was just looking through old charts and ran across this one again. whats your take on the situation now?im curious cause that was a nice cup n handle but now i think the handle is waaay to long.
Techmology
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@yamaharider256, It's entirely contingent on what BTC does next and whether or not we see a new lower low. If BTC breaks $3,200 we could be in for another really nasty tumble. If we hold above $3,3-400 and start printing higher lows again we could well break the bear market trend line again and start seeing alts move more volatily while BTC revs up its engines.
yamaharider256
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thanks for the info and the charts. keep it up! i check them regularly
Techmology
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@yamaharider256, No problem man! I like charting those I own and find to be an ace in the hole!
yamaharider256
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oh i am very familiar. i have 350 of them, wiswh i woulda bought more at the $3-8 range but oh well i believe its a $100+ coin
Techmology
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@yamaharider256, Wow! That's great! wish I did too. All too many times do I see people become impatient and unload, only to regret it later. Congratz on such a great choice and being steadfast enough to hold it!
Less for Uncle Sam, more for you.
Techmology
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@yamaharider256, I only wish I had known enough about this project at the time to have taken advantage of it. better late than never though. Im still happy with this dip I bought. Been waiting a long time for this buy op!
yamaharider256
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oh cool ive always wondered what that was for. makes sense now haha
yamaharider256
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awesome. I'm curious if it has broken out of the handle formation yet?
Techmology
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@yamaharider256, You can press play on the chart to get the image. It fell to the lower of the 2 trend lines I expected as pivot points and has begun rising. This is a pretty large time frame so give this some time to develop. All this aside, a lot of younger alts might expect to see similar movements to what GVT is already doing and is due for an ATH within this cycle as I observe it where holding an asset like TRX past a double top like formation is likely to retrace much of the gains as seen here. BTC also formed similar wave movements to this and I believe EOS is in the process of doing much the same now. This isn't a guarantee on TRX or EOS however it's not at all uncommon to see this type of price movements in a securities early ages. I hope this information helps! Pressing the play button on the chart is really great for seeing how peoples expectations play out.