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
Nota
Wait more. Buy in 2 weeks after BTC fud is over
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.