It appears that XVG is consolidating in a identified Bullish Flag set up.
Targets are set from a 1.618 Extension, as that is what got us here to start with from the previous Bull Flag Set Up.
With news of Wraith Protocol being released this week, as well as post christmas buyers entering the market, this scenario is not completely impossible to play out in the next week or so.
Shouldn't we expect it to bounce back after the stupid FUD news? Also, They have released Wraith!
Mysterion94
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Well XVG shit the bed for a while, what do you think now man?
dennisfass
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It got down to 800 ($.11 us) for my purpose. Quite a bit of FUD originating from the Redditt community, then FB on a putative lack of progress by one guy that was monitoring the Github site. I a little new at this and do not know how to read code. The claim was that there was very little original code and Wraith Protocol was not coming out. As I write it has reversed and trading at 1350 ($.19). Coincidence?
If the FUD is true this week could be its last week of hitting a high for the reasons you mention. Take a couple of days to get multiple confirmations of the FUD. Further thoughts?