With the Bolinger Bands contracting on Bitcoin’s chart, a huge move may be around the corner.🤩 Find out which coins are showing signs of a bullish move soon!👇 CMCAlexandria Author: anshrathod__ Editor: YousraAASheikh GMT DOT BTT BAT FLUX FIL
GMT has continued trading in the zone between $0.83 to $1.30. However, it is forming a bullishGMT was also strongly outperforming Bitcoin on Wednesday as it was trading 3% higher while the majority of the coins were trading in the red.The important levels for this week will remain the same as last week’s analysis. The bullish RSI divergence will be confirmed once a break over $1.10 is seen. Therefore, traders can look for targets at $1.55 once a strong breakout is seen.
A break from either side will result in a volatile move as BAT has been accumulating since the start of May. For a bullish move, a close above the $0.43 mark must be seen. In the same way, bears will take control only once the support level at $0.36 is broken which could see the price going towards $0.306. Investors must be patient before taking any positions until a clear breakout is seen.will remain unvaried from last week’s analysis as the price is at the same level.
The demand zone we constructed in last week’s analysis has been broken by FIL. We anticipated this move and it seems like the next leg in the downtrend may start soon. The next leg could be seen once FIL breaks the support at $7.11.Once a close below $7.11 is seen, we may see FIL plummet down to $6.71 which was a freak low set in May. Any sign of bulls will only be seen once the price is able to climb back to $7.92, thus until then investors should steer clear of FIL.
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