The monthly chart is 2 days from closing on a doji candle which is bullish after a long downtrend. The weekly chart signaled a buy a few weeks ago according to CCI at an average price of $3.00. The daily chart is trading in the oversold range on the CCI but is not showing a buy signal just yet. The 4hr chart signaled a buy a few hours ago according to CCI.
After Bitcoin went parabolic the entire altcoin market took a dump but just before that took place GVT was ready to begin a breakout of its own. It pumped +50% but the move was sold off with the rest of the altcoins. Bitcoin has now showed some weakness and if money begins to flow into the altcoin market we could see lower cap alts like Genesis Vision could see a nice move to the upside.
Entry: $2.90 - $3.00
Targets:
1) $3.50 (20%)
2) $4.00 (35%)
3) $4.50 (50%)
4) $5.00 (70%)
5) Open (Will update trading idea after target 4 is breached)
Stop-loss:
Candle close below $2.65 (-7)
After Bitcoin went parabolic the entire altcoin market took a dump but just before that took place GVT was ready to begin a breakout of its own. It pumped +50% but the move was sold off with the rest of the altcoins. Bitcoin has now showed some weakness and if money begins to flow into the altcoin market we could see lower cap alts like Genesis Vision could see a nice move to the upside.
Entry: $2.90 - $3.00
Targets:
1) $3.50 (20%)
2) $4.00 (35%)
3) $4.50 (50%)
4) $5.00 (70%)
5) Open (Will update trading idea after target 4 is breached)
Stop-loss:
Candle close below $2.65 (-7)
Comment:
Target 1 has been reached. (+20%)