GRT/USD - potential lower targets before bull resumption
The Inverse Head and shoulders was invalidated unfortunately. Some think this is a potential triple bottom.
From here, if Bitcoin does not decide to push upward - and instead at least goes to test the 20 week moving average - I could see another potential 35%-ish down from current price levels for GRT/USD based on Fib levels, as there is good confluence around 80 cents.
This is IF Bitcoin doesn't find support here, and continues to face a correction.
Otherwise, we should be very optimistic, as GRTUSD has already faced a nice cool off phase.
From here, if Bitcoin does not decide to push upward - and instead at least goes to test the 20 week moving average - I could see another potential 35%-ish down from current price levels for GRT/USD based on Fib levels, as there is good confluence around 80 cents.
This is IF Bitcoin doesn't find support here, and continues to face a correction.
Otherwise, we should be very optimistic, as GRTUSD has already faced a nice cool off phase.
Comment:
Also - beyond fib confluence - there is decent S/R at 50-60 cents that I can see anyway.
Comment:
Bitcoin came within 3% of the 20 week MA, and wicked up decisively from there. Things are at least looking on the up and up for now.
Trade closed: target reached:
It went to the 50-60 cent support/resistance. Now that is a capitulation!
