UPDATE: This coin has been such a tease lately! We can put the blame on Bitcoin for now but I think the time has come to wave the red flags and let the Bulls run the show! I am Very bullish on this coin as the indicators as well as volume levels all indicate to a major price rise soon, all the good bullish indicators are there!
Ignore the FUD and shills on Reddit, the charts are what move the price. Bulls and Bears, Fear and Greed, the charts show the true sentiment of human emotions and mapped out with Elliott's wave theory showing this psychology of human emotion. With this information we can predict the future possible pathways for these charts to play out. The more indicators agree with your pathway the higher chance you are of being correct in this price movement. (In my experience!)
Please realise there will never be a 100% correct prediction of future paths, that is impossible for me or ANYONE ELSE to give you! Invest with your own reasoning and analysis not just anybody else's! I see too many new 'crypto enthusiasts' complaining that other peoples TA are dumb and fake because they didn't make 50% returns in 1 day or as a chart said... At the end of the day It's just data and evidence of history that we collect to predict the future In a chart. TA keeps the fear away and will make every trader confident in his craft!
Overall, XVG is EXTREMELY Bullish and still in a MAJOR uptrend! We Might POSSIBLY enter an elliot double combo wave on a longer scale, but the final destination is the same. Anyways, until we get to the future this is still my primary count! :)
Goodluck Lads!
Komen
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Hi Guys, please keep in mind the potential for BTC to downtrend, leaving us with longer timeframe for this breakout to happen, all the best!
Dagangan ditutup: hentian tercapai
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My stop of 915 satoshi had hit after Bittrex was updating the XVG wallets, BTC looks to be doing a massive A B C correction, I will be shorting my position to pick up at 11-8k BTC/USD
I will update XVG once Bitcoin has recovered, but my strong OPINION* to everyone is to be playing Bitcoin for this moment and not the ALT COINS that have a strong influence from the BTC momentum.
TA still intact? Looks like it's broken key support / trend line
Sync38
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@JackNReid, Symmetrical triangles do have a rare chance of breaking downward and my stop loss was firmly filled so unfortunately we'll have to take this one as a loss!
GoodmanSimon
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Great analysis, thanks
Aikido_1
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Thank you very much SYNCO
bassguitar
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Great write up and TA! It bugs me when people post a chart and type in less than one sentence. Keep doing what you're doing, you're way ahead of the illiterate folks.