GRSUSD trade ideas
Groestlcoin - Opportunity Is ThereGroestlcoin has reached an all-time high on the 1st of November, hitting $1.33. Since then it corrected down to $0.4 while losing to USD 70%. A $0.4 is a strong psychological support and it has been rejected for three consecutive times. After the last rejection price went higher breaking above the triangle pattern.
Currently, Groestlcoin has corrected down and is testing the uptrend trendline as well as 200 Moving Average. This could be a very good opportunity to buy GRS/USD, while risk rewards ratio is quite high. Price could go as high as $1.9 with a potential gain of almost 300%.
The $1.9 target is confirmed by two Fibonacci retracement levels. First is the 161.8% applied to the corrective wave from the all-time high. And second is 727.2% applied to the corrective wave after the triangle pattern breakout. Only the break and a daily close below $0.3 would invalidate bullish outlook.
GRS - Potential UpsideBased on the trend analysis, GRS is hitting a critical point and has some large potential for growth.
My first attempt at reading, GRS CryptoCan you guys tell me if I did it correctly? I want to become a master Chart reader (:
GRS How To TradeYesterday Nov 3:
RSI oversold aligned with reversal zone, elliot wave correction wave 4 completion & bullish bat target gave us the signal to enter in correction zone.
Today:
- Fibonacci Extension level 1.618 aligns w/ Elliot wave 5 next leg up target $2 USD
Notes:
- wait for local high to be broken for entry to ride to $2 USD
- watch out for RSI to dip down
- Look for candlestick patterns
- watch volume
GROESTLCOIN - Ready for wave 5 UPGroestlcoin just made the correction wave 4.
We hit bottom at 0,618% fibonacci around 0,55. This is also the top of wave 1.
According to fibonacci wave 5 will reach 4,2 which is around 2$.
