GRTs constant lower low making days are at least temporarily over. Last year Oct GRT put in a first higher low since 2021 and this month price has created a fresh higher high. Elliott wave perspective, price has made a 5 wave up wave 1 and 3 waves correction wave 2, followed by a very strong 5 waves lower degree wave 1 (might still have some energy left to it). We should see a smaller 3 waves wave 2 and then very strong wave 3 of 3. Given this should be the first primary degree wave 1, the minor degree wave 3 should be the strongest wave in this cycle. It should be at minimum 1.618 extension of intermediate degree wave 1, and could go up to 3.618 extension (we have seen that for BTC and ETH). So, good times should be ahead.
The bear case is not fully negated yet. If the bear market is still alive, then price should fail at or below 1.618 extension at $0.87 and go below $0.22. That would mean this bull run is just a B wave move which will be followed by a devastating C wave that can take price below $0.01. Right now let's not think about it too much.
The bear case is not fully negated yet. If the bear market is still alive, then price should fail at or below 1.618 extension at $0.87 and go below $0.22. That would mean this bull run is just a B wave move which will be followed by a devastating C wave that can take price below $0.01. Right now let's not think about it too much.
