BINANCE:XVGBTC has been in a thight accumulation range for a month now. An interesting point seems to be reached in the short term when the upper trendline of the falling wedge comes close.
If it will be broken, I guess we can se a move towards 50 sats, before a small retracement back to 41 and a major move towards 120 to 146 sats.
MACD on the daily also looks quite good to me.
1. target: 50 sats
2. target: 96 sats
3. target: 120 sats
4. target: 136 sats
5. target: 146 sats
SL: 36 sats
No advice only an idea. Happy about feedback!
If it will be broken, I guess we can se a move towards 50 sats, before a small retracement back to 41 and a major move towards 120 to 146 sats.
MACD on the daily also looks quite good to me.
1. target: 50 sats
2. target: 96 sats
3. target: 120 sats
4. target: 136 sats
5. target: 146 sats
SL: 36 sats
No advice only an idea. Happy about feedback!
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Since BTC is moving upwards and all alts are bleeding, I think it is best to put the SL below 34: Once a daily candle closes below 34 I think we will see some downward move and I will close my position then. Once BTC cools off usually alts jump right after and I think XVG will have a major lift off: So far XVG stayed pretty strong during the upwards move of BTC. Many other alts already lost 20-30% and also closed below critical support lines on the daily frame. Also MACD on the daily still looks good and on the hourly it already turned upwards and seems to maintain the upwards momentum.
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Closed after daily close below 34. Let's see how far down we go. I think a daily close at or below 29 sats will lead to some major move downwards.
So far the lower trend line worked as support and the daily candles closed at or above it.