GTO downlink. Local lateral canal. Break through possible
Updated
GTO, like all altcoins, the main trend is downward. Which formed a downward channel. A minor trend since August formed a lateral movement in the channel with a step of 25%.
The price is now at the critical support area. Perhaps we will see her breaking through, possibly a false breakdown. If there is a break through and the price consolidates under support, then the similar will be like on the eth / btc pair half a year ago - lowering the price to the width of the previous accumulation channel.
If there is only a false breakdown, then the input at the bottom of the previous accumulation channel has a potential of about + 25%.
Pay attention to the downward trending resistance of the downward channel, only a breakthrough and fixing the price above it will mean a reversal! Before that, you remember - you are trading in a downtrend and the bottom is unlimited in this case.
Use Stop Loss with an adequate value and when entering the market, have a clear plan for entering the transaction and exiting when the price goes in your favor or against you.
The price is now at the critical support area. Perhaps we will see her breaking through, possibly a false breakdown. If there is a break through and the price consolidates under support, then the similar will be like on the eth / btc pair half a year ago - lowering the price to the width of the previous accumulation channel.
If there is only a false breakdown, then the input at the bottom of the previous accumulation channel has a potential of about + 25%.
Pay attention to the downward trending resistance of the downward channel, only a breakthrough and fixing the price above it will mean a reversal! Before that, you remember - you are trading in a downtrend and the bottom is unlimited in this case.
Use Stop Loss with an adequate value and when entering the market, have a clear plan for entering the transaction and exiting when the price goes in your favor or against you.
Note
The price has reached the indicated zone - the bottom of a potential new accumulation channel.
If support is confirmed, the potential for the first movement is + 35%.
Note
✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
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.