The price of GTO has seen a nice push up in the past hours, followed by proper volume of buyers. Although the price has dropped quite a bit, the volume of sellers does not come close to the volume of buyers. There is a binance Event this week regarding GTO, which caused the spike in price; and hopefully the interest caused by this event is enough to generate another wave up in the price of GTO ;D
We can hope that people are not getting rid of their GTO's and these might be a price that is good for accumulation.
We can enter the trade at prices below the 0.5 FIB and hope for short-term targets at the next FIB levels; with the following setup:
Buy: below 0.00004368
Target 1: 0.00004718 Target 2: 0.00005151
Stop-loss @ 0.00003521
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Trade aktif
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Target 1 was reached!
You can keep an eye on the price to buy if the buy zone is reached again.
What would you recommend now? i got it at 3910 and its falling like anything :)
atkelley22
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Is the run over or could it pump again before the contest is over on 2/19? It looks to be consolidating but may just be going down?
clopezf25
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@atkelley22, I agree that it seems to be consolidating and we might see another increase before the contest is over.
Since the price is around that Stop-loss, you might want to take a higher risk chance and invest a small quantity now just in case. However, I would keep a very tight stop-loss if entering now.
CharlieHustle
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FYI - There was a Binance contest for GTO that started yesterday which was the reason for the spike. I think it lasts for a week. is this still your position?
clopezf25
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@CharlieHustle, Hey! Yes, there was a Valentine's week contest that pushed the price as seen on the graph. Thanks for pointing it out! I should have mentioned it on the analysis. i do still hope to reach the targets marked, yes.