GTO is probably ready for correction (4) and impulse (5)
This coin shows some attitude to correct between 618 and 78s Fibonacci, so I forecast that (4) is gonna be the same.
Consider also trend support (yellow line)
If we look at the bigger picture (white Elliot wave), we are moving from (2) to (3) so the upper bound of sell area is set considering a fibonacci...
Look at the subpatterns I identified and feel free to tell me if you agree or not with their existance.
What's more sure is that this correction phase should end soon, take a glance to the support level and to the fibonacci retirement aswell.
the MACD shows oversold but the momentum isn't significative. On the other hand volumes are not that low, signals of a...
A converging trend near to the end can be spotted.
In the last 2/3 days volumes confirmed downtrend and we basically withstood to a "Shield against Shield" of Placed Order/Sell.
This characteristic is common to many coins in the last days due to the BTC conditions.
We would expect an uptrend or a substantial flattering of the market.
LRC seems a nice project...
You can see from the chart that correction phase should end soon. Elliot Impulse wave and ABC correction are confirmed on 1h and 1d charts.
Nevertheless on 1h chart one can think that correction phase is ending sooner than pronosticated.
Take a look to the MACD (White Circles) : It seems that the correcting pattern is repeating. In a few time it could be a good...