This just in! GMT looked like it was going to finally continue it's uptrend as it made several solid rallies today but was constantly rejected! In less than an hour, a solid 6.36% DROP occurred. This effectively completely shut down anyone who was expecting GMT to rally upwards. For those that were shorting the whole time, KUDOS! You made a solid play!
Once again the discussion is on GMT! Where the money is, that's where we'll be! What was once a bullish play is now looking pretty bad. We'll see in the next few days if we can finally anticipate a strong bounce here. I know I'm expecting a solid bounce based on the 1 HR candle.
As always, anything I mention here is not financial advice but my thoughts and my plans on the tokens discussed. Let's head on over to BTC!
BTC Situation
BTC has been looking really good! Look at that rally! The long red candle was a pullback but the market seems to want to keep on pumping! As mentioned yesterday, it seems like we're on the road to 50k!
My Trades Today
GMT
Todays main trades were always on long for me. I was really expecting a pump to reach beyond 4. I was always lucky enough to exit before things turned south. It's currently in an area of value that based on my analysis is where a strong bounce will occur. Hear me out!
Aside from the area of value, we've got this hourly RSI and MACD. So we know that RSI in the 30 area means oversold. As for the MACD, it's currently waiting for the cross, but based on the parameters it's actually at/near the lowest point it was before a solid reversal in a previous time it was in this area. Now all that's left for me is to wait.
Tomorrow's Watchlist
GMT
I've set my CL already and now all that's left is to see if it materializes for another rally or it hits my CL and goes straight to hell. If it comes crashing, I've got another buy order waiting down there!
Credits
- Charts taken from Tradingview.com
- Pictures made using Canva.com
Posted Using LeoFinance Beta