GRTUSD is currently chilling in the big picture 618 pocket.
It appears to still be in a large falling wedge.
I think that we probably get a recovery rally here, but we will need to break out of the falling wedge, and establish the $1.50ish area resistance as support, otherwise I think that we head down further if BTC continues its sustained correction.
I still have fib confluence around 80 cents as my personal floor/strong buy area.
My two scenarios and everything that I have mentioned are pictured in this chart.
Thank you!
It appears to still be in a large falling wedge.
I think that we probably get a recovery rally here, but we will need to break out of the falling wedge, and establish the $1.50ish area resistance as support, otherwise I think that we head down further if BTC continues its sustained correction.
I still have fib confluence around 80 cents as my personal floor/strong buy area.
My two scenarios and everything that I have mentioned are pictured in this chart.
Thank you!
Trade closed: target reached:
They went all the way to the 50 cent S/R. I'd mentioned this possibility in the potential lower targets analysis linked to this. I just doubted that they'd go that low.
