In case you didn't expect it, yes this is still a GMT post. The thing with GMT is that it tends to do the opposite of BTC, generally speaking. The money removed from BTC is placed into GMT, which becomes the playground of the whales. That's what you need to consider every time you trade GMT. This is why I constantly discuss BTC despite not even trading it.
As always, anything I mention here is not financial advice but my thoughts and my plans on the tokens discussed. Let's head on over to BTC!
BTC Situation
BTC seems to have formed a triple bottom. Depending on how it looks in the next hour, possibly next few hours, we will see a strong movement in that direction.
My Trades Today
GMT
After yesterday's runup, I wasn't expecting a solid pump today. However, based on my strategy it looked like it was possible for it. Fair enough, there was a solid spike, which I entered on the impulse, but apparently was a fake out. It later crashed further to the bottom area of the range. It was at this point I decided to go in big on the confirmed breakout of the falling trendline, and then sold as it reached the resistance. This got me my quota and then some. Currently I am bullish with the direction GMT is headed, but I decided for my sanity that I won't trade more and just go to sleep tonight.
Tomorrow's Watchlist
GMT
GMT is still the playground to be in with the huge volume of over 1B USD. As mentioned yesterday, I expect a consolidation to continue so this is the best time to play the range.
Credits
- Charts taken from Tradingview.com and Binance
- Pictures made using Canva.com