We are now going to be looking into Gifto (GTOBTC). Pure technical analysis... we are going to be looking at the charts and read our next move. Let's get started.
Gifto (GTOBTC) - 3D (3 days per candle):
I have the basics marked on this chart, as usual. You can see the income potential, my favorite indicators, some dates, fib levels (for support and resistance), trendlines and moving averages. These tools can help us better read these charts.
Before we get started with the signals let me point out something interesting about this coins chart. We can see that GTO had its bull run in Dec./Jan. like the rest of the market. But, again in February GTO went ahead and tried to challenged its all time high. At this point in time, most altcoins were declining massively in price. In April a corrective wave up came and the entire market bounced, but this was a relatively "small" bounce, - small in the cryptocurrency market means 100-200% growth -, yet, GTO went ahead and tried to challenge its all time high once more rather than decline in price, showing good strength and completely detached from the market.
After the third try it started to decline massively and joined the rest of the altcoins, it reached a low point on 10 Sept., after which the downtrend broke followed by some green candles and increasing green volume.
Bullish MACD crossover and STOCH.
Now trading above EMA10, the bottom has been formed. Time to move up... Let's trade.