Virtual money has high profits and high RISK. THIS IS NOT AN INVESTMENT PROPOSAL. My personal opinion.
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It was just a shakeout... The altcoins are going back to growth, fast.
Here we have the chart for Groestlcoin (GRSBTC) and you can see the highlighted part (light blue).
We can see prices moving back above all the EMAs with force... We can easily see additional bullish action in the days, weeks, and months to come.
Here is the previous chart: June...
I have mentioned almost all the points on the above chart.
Right at the movement, GRS has broken the weekly resistance with a green engulfing candle.
From here two possible scenarios,
1. The next candlestick would be going to test the new support which was resistance before at 2156. Most probably on 1st test 95 percent of the chances are the retracement.
Price action is completing a Pullback on Daily timeframe in the form of Broad Bull Channel on 4H Chart. We have completed Bear Leg. We are starting out bull leg with Wedge Breakout (not a clear wedge) and forming a Triangle at Support of Bull Channel. Trade can be take at a Green Trendline Marked in the Chart. Correct Stop Loss is key to take this trade.
GRS has been in the accumulation channel for a year since July 2019, with a channel width of 40%, which will be the first target. What is this coin about and what do its holders honestly believe in, I think some payment system that will save the world)). It is traded on many exchanges, the volume of trading today is about 100 bitcoins per day.
-after a top at 2700s area, the price has dropped almost -30%
-it is now trading just above the golden fib zone
-and a strong daily support area
-if GRS can hold this level for the next 1-2 days
-I'm expecting a small pump up to 2260s resistance
-stop loss is ideal set below 0.618 fib support
GRS has brought us a lot of profit with previous analysis and now it went back to its horizontal support of 2000-2100sts. We can start to accumulate it in this range for the next pump. Its target should be 2800-3000sts or even 4000sts in this July
It will be very harmful if drops below 1900sts.
We are on a sideways trend for some time on GRSBTC, however, with large movements for these two points and we are reaching the support region of this accumulation so we will go to pay attention at this support level, an entry at this area could give a nice trade with the risks reward very positive.
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#GRSBTC Exit Plan Update:-
#GRSBTC Still holding Strong Support as per Chart.
If we talk about chart then this Is good Re entry Point but Now we hold only Old positions and not fresh entry Right Now.
#GRS Hold Or sell..?
Tomorrow #GRS Fundamental is Strong so I am holding with 2200 Satoshi Tight Stop loss.
But I am also thinking to not place Stop loss at 2200...