GMT; Where is the Bottom?
Hello Traders! CTDave here again with another daily price analysis chart.
Today I will be analyzing GMT, a coin that has produced a lot of attention to itself. Many might have generated lots of profit from it, and others might have lost a lot during its’ crash because of the China ban. You might ask “Where is the bottom?” and a possible answer lies down below
As you can see, there is a strong resistance level (marked with a “Resistance” bubble), and GMT is almost at that level. The red arrow shows how I expect the price to move. The RSI also shows that GMT is almost overbought which shows that it’s going down. Now, if the price retraces when hitting the $1.05 level, we know that the price might follow the blue arrow. If it tanks lower, then upon reaching the $0.85 level, it might either go up (orange arrow) or continue down (green arrow).
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
Today I will be analyzing GMT, a coin that has produced a lot of attention to itself. Many might have generated lots of profit from it, and others might have lost a lot during its’ crash because of the China ban. You might ask “Where is the bottom?” and a possible answer lies down below
As you can see, there is a strong resistance level (marked with a “Resistance” bubble), and GMT is almost at that level. The red arrow shows how I expect the price to move. The RSI also shows that GMT is almost overbought which shows that it’s going down. Now, if the price retraces when hitting the $1.05 level, we know that the price might follow the blue arrow. If it tanks lower, then upon reaching the $0.85 level, it might either go up (orange arrow) or continue down (green arrow).
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
Note
Hello Traders! A quick comment here. The price seems to be moving with the orange arrow.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.