Around a month ago I made an analysis on GRT. Here I argued that GRT was trading inside a triangle and was likely to follow this triangle for the coming weeks.
As it appears now, GRT is nearing the outer point of the triangle. Statistically, a break out should happen soon and come with some decent volatility.
Since the current state of the market is dominantly bullish, I'm expecting a bullish break out. Be aware that the price could very well follow the triangle pattern for another week or so.
First target is around the $1 mark. After hitting this target, I'm expecting a retrace towards the upper resistance of the triangle to confirm it as support. Second long-term target at $1.7.
Happy trading!
As it appears now, GRT is nearing the outer point of the triangle. Statistically, a break out should happen soon and come with some decent volatility.
Since the current state of the market is dominantly bullish, I'm expecting a bullish break out. Be aware that the price could very well follow the triangle pattern for another week or so.
First target is around the $1 mark. After hitting this target, I'm expecting a retrace towards the upper resistance of the triangle to confirm it as support. Second long-term target at $1.7.
Happy trading!
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