GVT LONG TERM PLAY(MONTHS)
In a daily timeframe, it is still hovering around the golden zone(0.618-0.65 fib retracement lvl), wave 4 is still valid based on elliott wave.
We can see wave 3 has reach 1.618 fib extension, so we can assume wave 5 can reach 2.618 fib extension(64000-65000sats). My previous target which is around 50000sats. 50000sats is more of a conservative target and this is CRYPTO so anything is possible.
Also, we can see it bounces off from 22000sats as this is a strong support that previously was a strong resistance for wave 1 to break thru, however, I wouldn't surprise if it goes to 18000-20000sats(0.786 fib retracement lvl) as we have recently got rejected by the 55EMA. So don't freak out if it goes to that price because we know in a bigger picture GVT is still in an uptrend.
We can see wave 3 has reach 1.618 fib extension, so we can assume wave 5 can reach 2.618 fib extension(64000-65000sats). My previous target which is around 50000sats. 50000sats is more of a conservative target and this is CRYPTO so anything is possible.
Also, we can see it bounces off from 22000sats as this is a strong support that previously was a strong resistance for wave 1 to break thru, however, I wouldn't surprise if it goes to 18000-20000sats(0.786 fib retracement lvl) as we have recently got rejected by the 55EMA. So don't freak out if it goes to that price because we know in a bigger picture GVT is still in an uptrend.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.