This time around, it looks like GRC is making another big move, there are two possibilities here :
1- either it is going to retrace back to 61% fib
2- or it will break above 61%, in this case, the next targets will be 100% and 161%
The thing is that, in it's history, GRC had a very huge pump around 9th of 2016. in other words, even if it meets 161% it's still way bellow that all time high price. So, saying that it can hit 161% is not an exaggeration. even at 61% there is a huge gain in this trade. Don't loose the opportunity.
here is an update on this market :
as you see, in daily chart we just finished the correction. Now, if you want to take the profit out soon, the very first target will be 61% on the fibo but, if you want to swing, this market will hit the markers I set on the chart in it's next pump. up to you. if you are after little but fast gains, 61% as before is your friend, on swing, the next targets are totally achieve able. Also note that the end of correction right now is above the price when it started the correction, a good indication that the market is still going bullish, another indication are the EMA graphs on the chart.
As you can see, we are still continuing the up trend and will encounter the resistance line soon. I suspect that this resistance won't bother us why? When the market drops sharply after a pump, many people will fall back on the higher levels of price, normally, they will be eager for the price to rise up. so, naturally, they won't put much resistance toward bullish trend that is coming. only main resistance would be day traders and those small robot orders and that is easily bypass able.
Long story short, in a day or two, we will see a nice, steady, move toward our goal.
first of all, as you see, the trend broke above the bearish move few hours ago and there is a constant healthy upward movement.
the next thing you may notice is that we are moving above a support zone (green cloud) indicated by different EMA calculations
finally, we are heading toward the Ichimoko's cloud and by entering it, we basically are going against the final resistance. Although the size of that cloud looks big, but in reality, that cloud was made by price actions of less than 10-20 BTC in total by daily traders and breaking above it won't be as hard as it looks. Also, if you look farther ahead, the cloud is getting close to flip and become a bullish future. Another good sign is the cross between kijunsen and tenkansen, in many TA lectures, that by itself is a good signal for buy. The last piece of puzzle is the crossing of chikou span that is crossing a bearish move by an upward movement, another signaling from the book for buy in to the trend. the good news is that is you didn't come into market by now, although you have lost near 18% profit by now, there is still much more into this trend and in less than few days, you can gain near 60% from this up trend even if it reverse from 61% fibo (something that i personally think may not happen and the market can still go toward 100% and 161%)
this can be your last chance because from the moment this market passes 2000 and enter that Ichimokou cloud, there is a high chance that the speed rise and you fall behind. Get into train as soon as you can.
Also, for those of you who like Rally system :
As you see last William Fractals made higher hi and higher low, indicating that we are indeed starting a bullish trend. the two EMA indicators used for Rally system is just crossed, changing the market situation from bearish to bullish.
Finally, even though the last closed candle made a reverse hammer, the current active candle is moving toward a hammer shape, another sign that even with seller's efforts, the market is getting bullish no matter what.
For those who didn't get in yet, be ready, the first wave is finishing off it's correction