GRT: ready to go

In the analysis of GRT on November 13, the medium-term trend of GRT was deduced and a bullish view was given in the medium and long term. Judging from the current data, GRT's bullish view has been further confirmed.

First of all, on the market, the price of GRT has now reached the upper edge of the big triangle. Although the rise is blocked here, it does not turn directly downward. Instead, it forms a high consolidation here, with the intention of continuing to accumulate strength for an upward move. We mentioned in the previous analysis that this oscillatory triangle is the largest cyclical form formed by GRT after it fell from the 21-year high. Therefore, once it breaks through, there is a high probability that a trend will emerge.

From the perspective of technical indicators, the daily OBV data continues to rise, and no obvious retracement has been seen so far, and the willingness of bulls to hold positions is strong. The price has also stepped back on the 30-day moving average in the recent adjustment, which can be regarded as a correction to the market that rose too quickly in the early stage. The weekly level MACD has officially broken through the zero axis, which also laid the foundation for the emergence of an upward trend.

Considering that Bitcoin is currently in a volatile market trend after being the first to rise higher and then fall back, this is the moment when altcoins begin to perform. Generally, when the first wave of decline in Bitcoin occurs, the altcoins will first follow the decline to a certain extent, and then the altcoins will become stronger. The currency will start to have its own independent market. Therefore, if you already have a bottom position, you can not close the position for the time being, wait for the market to break through, and set a cost price stop loss protection.

operate

As long as the price of GRT has corrected recently, it is an opportunity to intervene, but be sure not to use high leverage. At this time, it is more suitable to cover your position as it falls and slowly enter the market.