XVG continues it's descent in what appears to be a descending wedge. These are generally continuation patterns if they appear immediately after an uptrend. I have been watching Verge closely and trading smaller intraday positions. Now I see an opportunity for a larger long.
XVG is retracing to the 0.786 level. This coincides nicely with the wedge bottom and I expect a bounce here. My target is the 0.618 extension.
If successful this trade should develop over a number of weeks into early June.
XVG is retracing to the 0.786 level. This coincides nicely with the wedge bottom and I expect a bounce here. My target is the 0.618 extension.
If successful this trade should develop over a number of weeks into early June.
Commentaire:
Still waiting for entry on this
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XVG is still not low enough for me. I think tomorrow will might reach a support zone where a reversal is likely.
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At the bottom of my buying area now. I'll wait for confirmation.
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Next support zone is at 3.3 cent. Might get there tomorrow? (If we're going there.) Wherever the bounce is, rebound should be hard. Alt markets are totally oversold, just BTC rsi still too high imo.
Commentaire:
Verge is on the move
