Trade ideas
GMT/USDT good opportunity to buy Hey Traders,
Our attention caught GMT /USDT. For the last 2 weeks we have see that this coin has been going sideways so here are our 2 scenarios that we think might happen.
Firstly - GMT will hold the support that drew and it will bounce to $2.08.
Secondly - it will fall and try to test $0.85 support line from where we should have a strong bounce back up.
We sow that $0.85 had a huge volume which brought the price back to $1.35 and we think that traders won't let the price fall back so easily again.
Our buying zone is whole red zone and main target is $2
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If BTC is stable, GMT may start to go upHello everyone, let's take a look at the BTC to USDT chart over the 4 hour timeframe. As you can see, price is moving above the local uptrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is SL1 - $ 1.29, if the support breaks, the next one is SL2 - $ 1.17 and SL3 - $ 1.02.
Now let's move from the resistance line, as you can see, the first resistance is T1 - $ 1.62, if you can break it, the next resistance will be T2 - $ 2.10 and T3 - $ 2.50, T4 - $ 2.90.
Looking at the CHOP indicator, we can see that on the 1-day interval we are starting to recover energy, and the MACD indicator indicates an upward trend
GMT - how fast can the bulls run?Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
After the bears broke the last low in gray , GMT has been overall bearish making lower lows and lower highs.
Last week, GMT rejected the 1.0 round number and demand zone, however, we are not bullish yet.
For the bulls to take over, we need a break above the previous high AND above the 2.0 zone acting as a resistance.
Once we have this break (projection in purple) then we will be looking for buy setups on the 2.0 zone retest.
Meanwhile, the bears can still reject the 2.0 zone for another bearish impulse movement till around the green demand zone.
In this case, we will be looking for buy setups on lower timeframes as price approaches the 0.75 - 1.0 zone
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
TS ❕ GMTUSD: near the supportGMT is consolidating near the support level. I expect a rebound up to the resistance level.
BUY scenario: long to 1.74.
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