There is good potential here against BTC at this price.
I am marking this post for watch list as Neutral for now. I will update once clear signals develop
Happy trading
I am marking this post for watch list as Neutral for now. I will update once clear signals develop
Happy trading
Comment:
We are still seeing some positive signs in the short term timeframes.
The Green MA is higher that the White Energy in 3h, 6h & 12h. This indicates bullish sentiment. The Red RSI has also closed above 50 in these timeframes. However in the 90 minute the White Energy is above the Greeen and although the Red RSI has crossed above 50 it has not yet closed. Ideally we want to see the Green MA go out to the side allowing the White Energy to fall below and the Red RSI close above 50 or even better 56. XVGBTC has held up pretty strongly through BTC's recent volatility further supporting short term buy pressure at least. We have to consider that the White Energy in the 12h is close to 50, however ther are signs of the green beginning to turn up - but not yet conclusive. It is appears possible that the White Energy in the 12h may just dip below 50 before resuming upward pressure. We can see a dip in price action before continuing up if this plays out.
So again we are seeing positive signs for potential of upward pressure to crystalise and propogate to higher timeframes but need to wait for confirmation. Bear in mind analysing BTC pairs isn't as predictable and if done thouroughly needs to be done in conjunction with USD pairs for both ALT & BTC.
Sorry I cant be more decisive at the moment but have time constraints. I'm really just providing a bit more continuity for the initial publication.
Happy trading guys!
aBL
The Green MA is higher that the White Energy in 3h, 6h & 12h. This indicates bullish sentiment. The Red RSI has also closed above 50 in these timeframes. However in the 90 minute the White Energy is above the Greeen and although the Red RSI has crossed above 50 it has not yet closed. Ideally we want to see the Green MA go out to the side allowing the White Energy to fall below and the Red RSI close above 50 or even better 56. XVGBTC has held up pretty strongly through BTC's recent volatility further supporting short term buy pressure at least. We have to consider that the White Energy in the 12h is close to 50, however ther are signs of the green beginning to turn up - but not yet conclusive. It is appears possible that the White Energy in the 12h may just dip below 50 before resuming upward pressure. We can see a dip in price action before continuing up if this plays out.
So again we are seeing positive signs for potential of upward pressure to crystalise and propogate to higher timeframes but need to wait for confirmation. Bear in mind analysing BTC pairs isn't as predictable and if done thouroughly needs to be done in conjunction with USD pairs for both ALT & BTC.
Sorry I cant be more decisive at the moment but have time constraints. I'm really just providing a bit more continuity for the initial publication.
Happy trading guys!
aBL
Comment:
We are still looking at the short term timeframes (90m, 3h, 6h & 12h) to look for signs of upward pressure that can cascade into higher timeframes.
We can see nothing conclusive and at the moment seeing mixed signals. As with most alts XVG is watching BTC's next move.
BTCUSD - has closed in the daily with the Red RSI making contact with the Green MA as it falls. The White Energy has dipped slightly below 50 (48.39). However in near term timeframes (1d, 2d, 3d & 4d) we can still see upward pressure, in mid term timeframes (3d, 6d, 9d & 12d) the White Energy has started turning back up and does not seem to want to reverse to downward pressure yet. It seems to me that we could see some sideways movement from BTC albeit with some small volatile movements around this level. This could potentially be good for Alts.
XVG
The Green MA is higher than the White Energy in the 90m and is moving up strongly, the Blue LSMA looks as though it wants to cross upward above 50, the Red RSI is has closed above 56. However, in the 3h the Green has turned down and is below the White Energy but the White Energy is above 50 - this is a bit unclear in this TF. But if we look at the 6h, the Green is higher than the White Energy & the Red RSI is making contact with the Green MA as it rises. If it can close like this in 50 minutes, the White Energy will rise above 50 on the next candle, indicating a period of upward pressure. However currently although in the 12h the Green MA is higher thant the Energy they are dipping below 50 indicating downward pressure. So signals are mixed.
What do we want to see to resume upward pressure?
The Race.
The Red RSI in the 6h is below 50. So we need to see the White Energy in the 6h to CLOSE above 50 before the Red RSI in the 12h CROSSES below 50. If this can happen, we ignore the White Energy in the 6h and concentrate on the White Energy in the 12h and the Red RSI in the 24h to see if the White Energy in the 12h can CLOSE above 50 before the Red RSI in the daily CROSSES below 50... etc etc. So we are watching for upward pressure in the smaller timeframes to cascade higher.
Until we see this happening, it is in my opinion premature to consider opening long positions.
This is for information only and does not represent a clear signal as yet.
This is not financial advice but merely my interpretation of the current position.
Trade Safe
aBL
We can see nothing conclusive and at the moment seeing mixed signals. As with most alts XVG is watching BTC's next move.
BTCUSD - has closed in the daily with the Red RSI making contact with the Green MA as it falls. The White Energy has dipped slightly below 50 (48.39). However in near term timeframes (1d, 2d, 3d & 4d) we can still see upward pressure, in mid term timeframes (3d, 6d, 9d & 12d) the White Energy has started turning back up and does not seem to want to reverse to downward pressure yet. It seems to me that we could see some sideways movement from BTC albeit with some small volatile movements around this level. This could potentially be good for Alts.
XVG
The Green MA is higher than the White Energy in the 90m and is moving up strongly, the Blue LSMA looks as though it wants to cross upward above 50, the Red RSI is has closed above 56. However, in the 3h the Green has turned down and is below the White Energy but the White Energy is above 50 - this is a bit unclear in this TF. But if we look at the 6h, the Green is higher than the White Energy & the Red RSI is making contact with the Green MA as it rises. If it can close like this in 50 minutes, the White Energy will rise above 50 on the next candle, indicating a period of upward pressure. However currently although in the 12h the Green MA is higher thant the Energy they are dipping below 50 indicating downward pressure. So signals are mixed.
What do we want to see to resume upward pressure?
The Race.
The Red RSI in the 6h is below 50. So we need to see the White Energy in the 6h to CLOSE above 50 before the Red RSI in the 12h CROSSES below 50. If this can happen, we ignore the White Energy in the 6h and concentrate on the White Energy in the 12h and the Red RSI in the 24h to see if the White Energy in the 12h can CLOSE above 50 before the Red RSI in the daily CROSSES below 50... etc etc. So we are watching for upward pressure in the smaller timeframes to cascade higher.
Until we see this happening, it is in my opinion premature to consider opening long positions.
This is for information only and does not represent a clear signal as yet.
This is not financial advice but merely my interpretation of the current position.
Trade Safe
aBL
Comment:
We can see now that the White Energy in the 6h is now above 50 and the Red RSI in the 12h still has a long way to go - It is likely that we will close like this in about 3.5 hours and the White Energy wins the race - this is good. We will then concentrate on the White Energy in the 12h and the Red RSI in the daily....
Comment:
Despite downward pressure in the 90m - still seeing upward pressure in the rest of the short term TF's - could see another push up soon..
..however the Race between the White Energy in the 12h and Red RSI in the daily continues and is a prerequisite for upward pressure to cascade into the near term timeframes
..however the Race between the White Energy in the 12h and Red RSI in the daily continues and is a prerequisite for upward pressure to cascade into the near term timeframes
Also looking to have good potential in the short term timeframes.
The Red RSI & Blue LSMA have made contact with the Green MA as it rises, as a result we have seen the white energy rise above 50. We can see that the Green is higher than the White Energy in most of the short term timeframes, we want to see the Green higher than the White Energy now in the near term timeframes and we want to see the Red RSI cross above 50 in the near term timeframes.
In the near term timeframes we can see the Bollinger Bands expanding as the Blue LSMA approaches 50. I will try and add some more detail as I get time..