GMT recently made a new all time high @$4.17. Breaking the previous high @$3.85.
Price then created a double top on the 4hr, lower highs on the oscillator and fell hard from there. Similar scenario to APE
So now, what are we expecting??
If you said a pullback then you are correct! Friends Before we get one, I personally would like to see price tap our demand zone.
I will be looking to go long around that zone especially after seeing lower time frame bullish confirmations and watch price trade above $3.13.
A good 10-15% bullish run to 3.50 would be a nice play and I would not hesitate to take most or all profits at that level because we may see a run down to 2$ based off our knowledge on fibonacci retracements.
On seeing bearish confirmations, I may take profits on buys and hop into sells after the pull back is completed.