While reviewing my portfolio today and seeing almost everything in red, I was evaluating which coins are still performing well while the market is down and GVT came into my view. In some cases I'm interested in finding coins, like BTC which are down only 5-10% while other coins have 10-30% daily losses. In my case, this tells me by holding a good portion of coin in BTC, I'm able to minimize my losses while evaluating the market and selecting new coins at the bottom of the current wave, which are likely to move up or continue moving up.
One difficulty in this, is identifying coins that are sometimes oscillating opposite of BTC, LTC or ETH. For instance, you may end up buying a coin that is doing well when BTC is down or crashing because of some new news or fear in the market (SEC suggesting that Exchanges must file with them, untrue reports of hacking at Binance, etc). Then as soon as BTC recovers, the coin you bought begins to crash, when you thought it was going to be strong in relation to BTC.
Sometimes the oscillations are not just opposite, but delayed by a few days or weeks, so while GVT may be going up today while BTC is dropping, this could change in a couple days and it makes this method of prediction somewhat unreliable, without utilizing additional indicators.
While reviewing GVT, I found that there appears to be 3 strong indicators showing potential for upward movement and excellent gains.
First I noticed a possible Inverse Head & Shoulders indicator. The head and shoulders were both quite rounded, so it may not be the most conventional inverse H&S formation. The inverse H&S shows a potential gain from the peak of the head to the neckline (+225%). Also, with a H&S formation, there is often a "throwback" where after the formation completes, which pulls us momentarily back to the neckline before the rally begins.
Second, I noticed a slightly larger Cup & Handle formation appeared to be in the works, slightly larger than the inverse H&S. The depth of the cup in the cup & handle formation is how one measures the potential gain when the formation completes and begins to rally. In this case, the depth of the cup is +335%. I'm estimating that the handle of the C&H will complete around the same place the inverse H&S "throwback" completes, thus giving us a secondary target of +335%.
Third, reviewing 4H Ichimoku TS and KS are currently crossed and giving us the idea that we will likely be moving downward. This verifies the potential for the inverse H&S "throwback" to complete. The 4H Ichimoku cloud also shows that we are approaching a resistance cloud shoulder and in crypto, it's very common that when we touch the top edge of a resistance cloud shoulder, we will see the value propelled upwards.
Additionally, looking at the 1D Ichimoku clouds, we have a very strong support cloud under our current level. This leads me to believe that while the daily chart may not tell us we're moving upward, it seems to suggest that we won't be falling for at least the next couple weeks (unless something out of the ordinary happens). I'll share another chart showing the 1D ichimoku support cloud following this post.
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Notice the strong support cloud on the 1D chart.
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Handle is forming! Ready for breakout soon. Updated target $84.
Glad you did analysis on GVT. Recently went in big to this one. But I don’t think this can be accurately analyzed strictly by TA. Whether Ichimoku or Elliot wave or flags or C&h or h&s. This thing has a lot buzz. End of the month their platform will be enabled. It’s nevver gone down ON BINANCE. NEVER only corrections after increasing.
The buzz on this plus the current low supply gives gvt such a better shot at being the next 10xer or 20xer (been a while since these were found easily).
Gvt should not be shorted for quick profits. Short this thing just to get more gvt. Long this one. It’s just under $40. 5 months ago was $1. It will take SOOOO much less effort for gvt to get to $100 and $200. Some crazy dude out there predicted $9500 by 2020. The funny thing is that even though $9500 sounds insane- it’s possible more with gvt than most others.
Honestly I only just started researching this coin this week. But I really like everything I’ve read. Very bullish on GVT. Putting this one in a wallet or nano ledger and leaving it be!
@magesuko, not as far as I can tell. Their website is pretty dope. user friendly and explains what gvt is and how it works in a way for us normal people to understand. Ya know- they dumb it down a little.
This is directly from gvt site FAQ:
“What is Genesis Vision Token?
Genesis Vision has its own token: GVT (Genesis Vision Token). GVT is based on ERC20 Ethereum token standard.GVT will be used for all investment operations, profit distributions, and managers’token trading on the internal exchange.
What if you specified the exchange wallet address during the purchase?
You can send currencies from an exchange, but you have to specify the address of your ETH wallet to receive your tokens after the payment process because the receipt of tokens is not possible to exchange wallet. If you specified exchange wallet address, you should contact exchange support department and ask them to transfer your tokens to your personal ETH wallet address, such as MyEtherWallet, Metamask, Parity, Mist or Ledger.”
The buzz on this plus the current low supply gives gvt such a better shot at being the next 10xer or 20xer (been a while since these were found easily).
Gvt should not be shorted for quick profits. Short this thing just to get more gvt. Long this one. It’s just under $40. 5 months ago was $1. It will take SOOOO much less effort for gvt to get to $100 and $200. Some crazy dude out there predicted $9500 by 2020. The funny thing is that even though $9500 sounds insane- it’s possible more with gvt than most others.
Honestly I only just started researching this coin this week. But I really like everything I’ve read. Very bullish on GVT. Putting this one in a wallet or nano ledger and leaving it be!