XVG Rebound or drop?

2018年4月22日

After all the hoopla around the partnership we had a meteor shot to the 1435 high with a retrace to 62 fib to where we are now. Sitting at key resistance level of 36 fib. Elliot Wave in correction mode. If this pattern is true we may test 1000 or more. A clear left shoulder and head formation, waiting for the next move. If we hold it could present a great entry. The 50 MA is closing in on the 100 ma for the cross. Watch this one closely.

Currently testing the 38 fib with a battle going on at at 760-790. If we fail that support we may test 23 fib line. Volume is very low. MACD is not looking good with stochastic oversold. Aroon showing consolidation. This could go either way.