The Graphלונג
The GRT Buy Potential 70% Gain
The GRT reached its ATH on 12/02/21 at $2.88, and has since retraced back down after a very parabolic move up to the $2.88 level, down to $1.32. During the downward move The GRT has shown resistance at key Fibonacci levels, testing the 200 SMA on the 23/02/21 just 11 days after this huge move to the upside. From the current price levels, there are 2 possible scenarios I can see playing out here after the 200 SMA level was tested.
1. We could see a push phase back to the ATH levels of $2.88914 or..
2. The more likely scenario of another test of the 200 SMA which would form a double bottom, further signalling and confirming our bullish bias back to the ATH levels.
Note that the move back to the upside may be faced with some resistance specifically at the 0.382 and 0.7862 Fib retracement levels.
Overall The GRT is still in a bullish outlook long-term. Use the Buy Zone as a guide for the perfect sniper entry.
1. We could see a push phase back to the ATH levels of $2.88914 or..
2. The more likely scenario of another test of the 200 SMA which would form a double bottom, further signalling and confirming our bullish bias back to the ATH levels.
Note that the move back to the upside may be faced with some resistance specifically at the 0.382 and 0.7862 Fib retracement levels.
Overall The GRT is still in a bullish outlook long-term. Use the Buy Zone as a guide for the perfect sniper entry.
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