GRT/USD - Massive triangle about to be resolved! Bearish trend.
GRT has formed a massive symmetrical triangle which will soon be resolved. The bias right now is rather bearish with price pushing hard on our support.
If BTC continues to fall, it is likely it will pull alts with it and take us to the next support level at $0.5.
For this reason I'd not trade this right now, nor buy. Wait to see how our pennant resolves, if price falls lower, then best to consider an entry at $0.5.
Daily timeframe indicators are also bearish, so not much to say about that. My bias remains bearish for now as the overall market looks ready to re-test its key support levels including ETH and BTC (see ideas linked below).
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If BTC continues to fall, it is likely it will pull alts with it and take us to the next support level at $0.5.
For this reason I'd not trade this right now, nor buy. Wait to see how our pennant resolves, if price falls lower, then best to consider an entry at $0.5.
Daily timeframe indicators are also bearish, so not much to say about that. My bias remains bearish for now as the overall market looks ready to re-test its key support levels including ETH and BTC (see ideas linked below).
Like and follow if you liked this idea!
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