Long

$GTC/USDT 4h (Binance Futures) Falling broadening wedge breakout

Updated

Gitcoin bounced several times on 200MA support and seems ready for recovery now, let's enter on the retest.

Current Price= 12.501
Buy Entry= 12.150 - 11.114
Take Profit= 14.921 | 18.030 | 22.997
Stop Loss= 9.433

Risk/Reward= 1:1.5 | 1:2.91 | 1:5.17
Expected Profit= +28.28% | +55.00% | +97.70%
Possible Loss= -18.90%

Fib. Retracement= 0.382 | 0.559 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 3 weeks

Website: gitcoin.co

Note

Up to +21.30% (1x) since called

Gitcoin pumped almost instantly after a mini-dip, unfortunately entry was missed by 0.041$ 😏
50MA is being regained right now which is quite positive but a pull-back is still likely, we may be filled later then.

Trade active

First entry filled

Gitcoin pulled back to demand zone, who would have thought?! 😜

Trade active

Second and third entries filled

Gitcoin dipped further and now we are fully in, let's be patient and see if it can bounce back.

Trade closed: stop reached

SL hit with -18.90% (1x) and -1R

Gitcoin did not manage to bounce back on support and continued the retracement down.

Note

TP2 would have been reached with +55.31% (1x)

Gitcoin regained strength and went back up 2 weeks ago, then dipped to demand zone again.
Now holding above 200MA support, this is a decent place to bounce and resume bullish.

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