GRTUSDT is inside a falling wedgeFalling Wedge Formation: The market is currently forming a falling wedge pattern. This pattern is characterized by converging trendlines that slope downward. Falling wedges often indicate a potential reversal from a downtrend to an uptrend.
Testing the $0.12 Resistance: The current price action involves testing the $0.12 area as a resistance level. This level has historically played a significant role in the price movement of the asset.
Breakout Signal and Plancton's Rules: The anticipated action trigger is a breakout beyond the resistance level at $0.12. A breakout occurs when the price decisively surpasses a key resistance point, implying a potential shift in market sentiment from bearish to bullish. As per Plancton's Rules, this breakout could prompt a new long position.
New Long Position Opportunity: In accordance with the analysis and Plancton's Rules, a fresh long position might be considered if the price successfully breaks out above the $0.12 resistance level. A long position involves acquiring the asset with the expectation of its value ascending, aligned with the potential bullish momentum signaled by the breakout.
