GRT Analysis 08-09-2021 by TheSocialCryptoClub

GRT is viewed very well by investors in the medium/long term.
Today we analyze it from a graphical point of view.

First of all we can outline a parallel bullish channel; moreover, two POC have been drawn: the first one concerns the whole history of GRT and is positioned at 0.56; another one concerns only the last bullish movement and is positioned at 0.90.

A demand area between 0.49 and 0.45 (yellow rectangle) has also been identified.
bounces on the low trendline of the channel, POC level 0.56 and demand zone indicated are all exploitable for the so called buy the dip; instead, above the range delineated by the two POC and the parallel channel, it would be more appropriate to use trend following logic.

In case it goes up immediately, without touching the levels reported for the buy the dip, other levels will be exploitable, such as the central trendline of the channel or the upper trendline and POC 0.9.

In case the bullish movement should take place, the first profit targets should be positioned on the supports/resistances formed between 1.5 and 2.5. A small amount of the initial position should finally be held to take advantage of the possible price discovery.

Thanks for your attention and happy to support the TradingView community!

Commento:

Here we are, took the first entry level