Long

GRT - Echo Bubble Pop

Updated

GRT finds itself at two intersecting resistances.

First is the June 2022 lows, and the second is the year old diagonal.

If we get a close above those two intersecting resistances, then I think it's reasonable to target ~30c.

Note

Bullish weekly close. In the bear market, these breakout plays turned out to be scams, usually. In other words, bulls were lured in, and then slaughtered, but if we're now in a new regime (the echo bubble thesis), then this breakout should play exactly as it looks...

Note

So far, so good. We've closed above both diagonal and horizontal resistance, and came down to retest them. They're now acting as support, but I expect heavy volatility this week, and wouldn't be surprised if we wick below.

If it closes below on the daily chart, but the weekly closes back above, that's bullish. Closing below on the weekly is not good.

Note

Keeps chugging along as I hoped it would.

Note

Out of GRT. Rotating to FIL. Same setup.

Note

Update

fritzz

Also on:

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.