Long
GRTUSD Testing the 1D MA50. +50% profit opportunity if it breaks
The Graph Token (GRTUSD) has been on a strong 2 day rise that made it hit the 1D MA50 (blue trend-line) again, where last time it got rejected. Being within a Channel Up for the majority of the year, it may be time for the pattern to break as GRT has formed on the 1D time-frame a bottom pattern similar to that of June - July 2021.
The LMACD just formed a Bullish Cross and that pattern pushed the price above the 1D MA50 last time on a rally that topped within the 0.5 - 0.618 Fibonacci retracement zone and just below the 1D MA200 (orange trend-line).
This time the 0.5 - 0.618 Zone is around 0.6368 - 0.7591 but the 1D MA200 lower at 0.6081 and dropping. If a price breaks the 1D MA50, I expect an equally strong rally towards the 1D MA200. From today's levels, that represents a profit opportunity of roughly +50%.
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The LMACD just formed a Bullish Cross and that pattern pushed the price above the 1D MA50 last time on a rally that topped within the 0.5 - 0.618 Fibonacci retracement zone and just below the 1D MA200 (orange trend-line).
This time the 0.5 - 0.618 Zone is around 0.6368 - 0.7591 but the 1D MA200 lower at 0.6081 and dropping. If a price breaks the 1D MA50, I expect an equally strong rally towards the 1D MA200. From today's levels, that represents a profit opportunity of roughly +50%.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.