GRTUSD-We Must hold this demand zone - Inv head and shoulders
We are currently completing an inverse head and shoulder pattern for the graph.
This has been trying on the patience of anyone who'd hoped that the graph would make its next big move within this last intermediate market period.
We have so far successfully held our ground in the final shoulder, where the bears have not been able to move the price below the march low of 1.31. We had a wick down into the 1.40's, where the buyers stepped in. This looks great so far, as it is showing that this is in fact a demand zone.
We need to establish the supply zone above as support rather than resistance. We have been continually stalling around $2.20. This would be the top of the range for the Inverse pattern.
Based upon measurements, once we probably confirm the inverse patter after an initial breakout, we should see an initial 63% move to a 1.618 fib that has confluence with our inverse head and shoulders measurement. This would be around $3.50. There are of course higher targets, but to me this is looking likely in the coming market period, granted that this does not get invalidated.
Initial targets: $2.20, $3.50 once confirmed, $5.30 for intermediate moon shot - and then $7.00+ once the market mania hits later this year if everything goes as planned.
This is just what I am seeing. Personally I think that now is a great time to take a chance with the graph if you like to buy in an accumulation zone.
Thank you!
This has been trying on the patience of anyone who'd hoped that the graph would make its next big move within this last intermediate market period.
We have so far successfully held our ground in the final shoulder, where the bears have not been able to move the price below the march low of 1.31. We had a wick down into the 1.40's, where the buyers stepped in. This looks great so far, as it is showing that this is in fact a demand zone.
We need to establish the supply zone above as support rather than resistance. We have been continually stalling around $2.20. This would be the top of the range for the Inverse pattern.
Based upon measurements, once we probably confirm the inverse patter after an initial breakout, we should see an initial 63% move to a 1.618 fib that has confluence with our inverse head and shoulders measurement. This would be around $3.50. There are of course higher targets, but to me this is looking likely in the coming market period, granted that this does not get invalidated.
Initial targets: $2.20, $3.50 once confirmed, $5.30 for intermediate moon shot - and then $7.00+ once the market mania hits later this year if everything goes as planned.
This is just what I am seeing. Personally I think that now is a great time to take a chance with the graph if you like to buy in an accumulation zone.
Thank you!
Commento:
Invalidated. BTC going to test 20 week Moving Average.
