So having a look at GRTUSDT, and checking the price action from the weekly time frame, the price seems very bearish structure-wise at the moment. Having a look at full and macrostructure on weekly is really not too important as 4H is the entry Time Frame, and targets and invalidation points are accordingly. But it’s important to check out the weekly levels and past weekly candles. Talking about the previous Low which was around $0.4306, the price recently stop hunted that. This has allowed the price to grab necessary liquidity which serves as fuel for the price to move in any direction. Now as it has grabbed, the price has the potential to move in the upward direction to make its Lower High. Talking about the candlestick anatomy, the previous week closed at bearish while the one before the previous was bullish. This week seems bullish as well, and if it does close as a bullish, this would be a double bottom on a lower time frame, and it shows bullish intentions.
Moving down to the Daily Time Frame, GRT has some confluences for the upward movement as well, the price has clearly shifted structures to the topside, and the move down afterward was probably a process of mitigation. Now if momentum is observed, the way price came for mitigation and the way price bounced after mitigation shows a lot. There is a much difference in both of the momentum, and it clearly shows that buyers’ momentum is strong and they are interested.
Moving to the last time frame which is the 4 Hour time frame, GRT has shown some beautiful Price action. First thing, talking about the structure, it’s clearly broke to the upside in 4 Hours. The price when was pushing down started consolidating at one point which defiantly was a trap for buyers. It took out the early buyers by another push to the downside and once it goes the necessary liquidity, it bounced significantly to the topside. Supply was failed by the demand, and demand is in control. Moreover, the momentum is strong so it’s always ideal to go with the momentum. Now as the momentum is strong, it’s very less likely that it will visit the extremes again for some time unless BTC messes up, being the reason The breaker Block is a good POI as it aligns with Fibo Golden ratios as well as the Equilibrium of the previous consolidation. The invalidation point can be considered around $0.3888 while the target can be considered as $0.4958
