#GRT GRTUSDT: W-shaped double bottom structure!
GRTUSDT has formed a clear W-shaped (double bottom) reversal structure on the chart, with both bottoms forming rapidly. The second bottom shows strong signs of seller exhaustion and a transfer of market control. As the price remains above the foundational support, the second bottom becomes a key holding area.
Key levels and targets:
- Neckline: Primarily bullish path. Sustained breakout above the neckline will confirm the reversal and open up upward movement.
- RSI: Displays a clear double bottom shape with strong momentum, supporting the effectiveness of the structure.
- First target: Approximately $0.463 (near the neckline), breaking above will open up higher cyclical upward space.
- Subsequent target: Near the previous ascending structure around $2, followed by looking at the historical high point of about $6. A pullback is a normal correction and does not change the trend direction.
The current layout has volatility space, while maintaining a bullish pattern on the larger cycle. Risk control is below the structure; if the neckline holds, the potential risk-reward ratio is excellent!
Entry: Near the current price | Target: Above $0.463 | Stop loss: Below the W-shaped bottom
