SimonMercier
Long

XVGBTC shows signs of over buying

BITTREX:XVGBTC   Verge / Bitcoin
Hi guys,

I made this graph for a follower that was asking me to make a TA about XVG. As for now, for the mid term, XVG shows signs of an early overbuying (hype?) and a compressive downish corrective triangle. I heard good and bad things about XVG so this TA doesnt contain analyzing biais.

So to resume :
RSI shows overbought state
MACD shows early sign (trend crossing signal) of a correction.
Trend showing lower highs and lower lows.

Buy the dips, this a classical 1-2 wave, price gonna move to stabilise near wave 1 range before wave 3.

Definitively going on my watch list for long term profit.
Kommentar: this a classical 1/1-5/-ABCDE/2**
Kommentar: correction could switch to a compressive triangle
Trade ist aktiv: C & D completed. E is your buy zone
Trade ist aktiv: on the road for E
Trade geschlossen: Ziel wurde erreicht: E point completed. Update soon.
yaee baby
Antworten
I guess "E" is passed and the price from here points more or less up, at least in satoshi value. Could you make this analysis on USD basis? I think time around XVG is getting hotter.
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SimonMercier TobiasSombrowski
@TobiasSombrowski, yep. XVG completed E. Will post an update tmrw
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Ignore the rsi..whale are just buying and selling between each other..i watch the volume on binance and same 1-2mxvg orders go back and forth between buy and sell
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TobiasSombrowski retiringsoon1
@retiringsoon1, 1 and 2 million is not that much. 1million verge costs before 6 month some $5000. I wouldnt call 2million verge a whale, it was just a clever man using an opportunity. 100 BTC worth of Verge is starting area of whale. Verges marketcap is today 104000 BTC. If you own 100, you change nothing except temporarily the price. It corrects within 5 minutes. Longterm it does nothing.
+1 Antworten
Thx man
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Hey, you need to put a 4 h scale you will see RSI Showing oversell !
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SimonMercier Dorian942
@Dorian942, thats the problem, it will make the point C to D. the oversell signal will trigger an impulse to wave D
+3 Antworten
hi tnx so much
+1 Antworten
@mors2024, you are welcome ! :)
+1 Antworten
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