GRT/USD - Descending wedge, expect breakout
GRT is forming a descending wedge with a nice bullish divergence on RSI (lower price, higher RSI, see yellow arrows) on the 4h chart.
We may still play inside the wedge, but this is looking positive mid-term, I would expect GRT to break-out at the next opportunity and push above the previous ATH in a second major leg up.
If however we fail to do so, GRT may correct further down. I find this unlikely as GRT fundamentals are quite strong. Nevertheless, new coins can correct up to 95%. So watch out!
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We may still play inside the wedge, but this is looking positive mid-term, I would expect GRT to break-out at the next opportunity and push above the previous ATH in a second major leg up.
If however we fail to do so, GRT may correct further down. I find this unlikely as GRT fundamentals are quite strong. Nevertheless, new coins can correct up to 95%. So watch out!
Like and follow if you likes this idea!
Transaction en cours:
Breakout! :)
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