XVG is traveling in a descending channel
on the 4 hour chart, while RSI
has formed a symmetrical triangle. This has formed a long term bullish divergence
(lower lows in price, higher highs in RSI
). A bullish divergence
in oversold territory is a "sweet spot" for me in trades, and is what I look for when attempting to predict a significant break out. Be careful, as BTC
is still ruining setups - but this is starting to look difficult to pass on.