Hello guys!
With all this uncertainty, signals are at a much lower rate than usual, and it's true for all traders, as we are waiting to see what will happen with the market.
I have been asked to do this TA on XVG. The thing is, this one is very hard, so I will try to analyze it part by part.
Why is it so tricky ?
- Bitcoin is very unstable, and XVG is dependent on it, just like all alts.
- XVG seems to have floored and have stabilized around 600 sats, so we can presume it's going up if we look at the 30 minutes / 1 hour chart. However, if we look at the daily, it's still not looking very good.
- Indicators are in a very neutral zone
I drew 2 scenarios:
1) if we go up and break the downtrend line, correction is over.
2) If we break the floor and go down, we're going down towards my orange resistance line.
Actions recommended :
- Wait for the market to develop this week
I'll update it
With all this uncertainty, signals are at a much lower rate than usual, and it's true for all traders, as we are waiting to see what will happen with the market.
I have been asked to do this TA on XVG. The thing is, this one is very hard, so I will try to analyze it part by part.
Why is it so tricky ?
- Bitcoin is very unstable, and XVG is dependent on it, just like all alts.
- XVG seems to have floored and have stabilized around 600 sats, so we can presume it's going up if we look at the 30 minutes / 1 hour chart. However, if we look at the daily, it's still not looking very good.
- Indicators are in a very neutral zone
I drew 2 scenarios:
1) if we go up and break the downtrend line, correction is over.
2) If we break the floor and go down, we're going down towards my orange resistance line.
Actions recommended :
- Wait for the market to develop this week
I'll update it
Yorum:
Wait more. Buy in 2 weeks after BTC fud is over