Hi guys As I said in my other chart, if GVT doesn't break that falling resistance line (which I don't think it will), we will see further correction down the falling wedge to the massive support area labelled on the chart IF we do break that resistance then the bear run is over and we will push on from there Let me know what you think!
GVT is fundamentally an amazing coin. One of the only coins at ATH in BTC during the bear market. -Upcoming releases of their investor platform with many big names backed behind it. -Low circulating supply. -Low total market cap. -Alpha testers really really like the product. Guess what Crypto is missing to? -Infrastructure, which is exactly what GVT is....
GVT has hit bottom of WAVE C. It will more than likely move up and test the major falling resistance. Failure to break this falling trend could result in further correction down the falling wedge to the next support zone.
#GVT/ #BTC Trade summary : AGRESSIVE BUY : 0.0022 Safe BUY : 0.0025 SELL Target1: 0.0036 SELL Target1: 0.0042 Stop loss: 0.0019 ***************send me a msg to join my telegram group*********************
RSI is severely oversold on the 4HR. Last time it was this oversold, it bounced from 22k sats to 29k. Currently hovering on the bottom band of the bollinger. RSI is pointing UP! I expect to see a bounce REAL soon and hopefully, we see a reversal here. It's also seemingly respecting the past falling wedge trendline. THIS IS NOT FINANCIAL ADVICE. DYOR!
I strongly believe we are almost reaching the bottom (21000-23000ish). Let's just see how it plays out in a few days time.
Description is in the graph. Up to the time I chart this, the retracement for wave 1 is still pretty healthy IMO. A break below 22000 indicates uptrend failure. Note this.
GVT bounces right at the trendline and let's see if it could make a double bottom from here. Wait for confirmation when it breaks out of the falling wedge. If it breaks down from the falling wedge, the next support zone would be 23000-23200. Based on the increasing RSI, I'm more biased that it will break out of the falling wedge instead of going down.
I has come up with this possible second scenario. Charting is about find every single possible scenario before it happens, so we can act with anticipation. For this second scenario, which is quite bullish compared to the previous one, we are in a falling wedge (duh obviously) and we are nearly done with correction, in wave 5 of C wave, down to the green box...
Has been very busy these few days and never have the time to really look into charts. The chart is solely based on elliott wave, I'm a new beginner on EW, so don't take my target seriously. So from what i has charted, we are now in correction and almost done with wave A correction, we could see a short term uptrend back to 26600-27500ish target and then correct...
This is my interpretation of BINANCE:GVTBTC Long position supported by consistent uptrend and repeated candlestick patterns. Targets (1) COMPLETED (2) COMPLETED (3) - 33100 (4) - 28000 (5) - 38500
In my previous post I explained very quickly that GVT was finally in for a break-out of its' triangle formation. Minutes later it broke out and will now likely retrace a little before the bounce-off. That brings me to the next part of the story – the targets and the overall chart picture. Chart of previous post yesterday, where I called the break-out: Daily...
On a 2 hour chart, a hanging man has formed with its wick hit on the resistance and a doji with high volume have formed, RSI is overbought as well, it indicates the bull has lost its steam. So, a temporary correction is due. The previous 25700 strong resistance has now become a strong support, expect a bounce from there. Again, it is not financial advice and...
GVTBTC - we are waiting a close-above the trendline to buy some GVT. Thank you for your likes and comments. You can also follow my other social media accounts :)
Wave 3 has reached 1:1 fib extension which is around 27100, RSI indicates overbought and also bearish divergence, so a correction is imminent (volume is decreasing as well). Based on the 0.618 retracement of wave 2, we can assume wave 4 retracement will be less than that, and also wave 4 cant enter wave 1 territory, so the correction target would be 25700 at most...
Hi Guys, Very quick post - check it out - GVT is breaking triangle resistance as we speak. Don't forget to put your stop losses as well so that you can trade this one well, but just wanted to give you the heads up. Also on the daily, we have a triangle formation approaching its breakout, a MACD and RSI in the buy zone and curving to the bull direction.