Coder775

Vergecurrency 1D chart mid-long term

Long
BINANCE:XVGBTC   Verge / Bitcoin
Hello everyone and welcome to my daily chart analysis of vergecurrency XVGBTC .

First of all I would like to point that on daily chart to confirm a bullish formation we need to close above 95 sat. First resistance on daily is seen at this level followed by 61.8 fibonnaci level at 107 sat where also we have 141.8 fibonnaci level from previous measuring. Once this level is broke next important resistance lies at 114-116 sat where we have a double fibonnaci levels of 161.8 and 78.6 from where we may have a retest of 103-107 sat area from where I would expect price to break previous high of 128 and make an attempt on 127.2 fib at 143 sat. After that I would expect price to retest 128-114 level area (yep this zone is larger than other ). And after retest of this levels I would look to get towards 155-162 area where we have multiple 161.8 fibonnaci extensions. Also I would like to point that if we get strong trend upwards we may not respect levels or someone may want to push market higher knowing that there are multiple fibonnaci levels at the same price point to fool people into buying higher.

This information is not a recommendation to buy or sell. It is to be used for educational purposes only.

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