XVG Reversal?

XVG was inside a Bullish Pennant (or symmetrical triangle) but unfortunately it broke bellow:

After dropping bellow the support line it made its way near it again, making it a Falling Wedge which means trend will be reversed after a breakout on the top line.

We could see another bounce inside the channel! So buy the dips!

Vergen is a good coin and if you Hodl you'll get rewarded.

Patience is a key to this market!

Trade safe!

Trade active:

Longer TF (1H) to show the old triangle and the new wedge with more detail, rather than then 1D TF I used at first!

Comment:

"We could see another bounce inside the channel! So buy the dips!" (2 Hours ago)

Indeed, XVGBTC bounced downwards. If it breaks bellow the yellow support of the wedge be careful!! (Don't get fooled by a false breakout!)

Buy the dip!

Trade safe!

Comment:

More fall to come, on this 1H chart if XVGBTC breaks inside the cloud it could be a bad sign..

Comment:

On an higher TF of 12H (The longer the TA the better the Ichimoku works) we see a big drop of the Tenkan.. Price is trying to get inside the cloud (Cloud > Price..)

Comment:

Price drop continues as predicted

Comment:

Price continues to fall (as predicted) lets see if it breaks bellow the cloud on 2H TF (most likely it will!)

Comment:

More price drop to come, Ichimoku shows bearish!

Buy the dip!

Trade closed manually:

Sorry to inform but this Idea will be closed so I can turn my attention to BTCUSD.

Trade safe!