NeelDuchiebra
Long

XVGBTC potential Cup & Handle spotted. Buying opportunity soon?

BINANCE:XVGBTC   Verge / Bitcoin
Verge has been nosediving lately, but looking at the bigger picture on the daily graphs, XVG holders may have reason to be optimistic with the formation of what looks to be a cup and handle!

If this proves to be true, the bottom of the handle has not yet finished forming.
RSI on daily chart is at the bottom of the neutral zone, this along with the RSI divergence signals that it can go lower.
MACD histogram also looks like it can go a little lower.

Purple lines are previous support lines. (Top purple line is the resistance line that must break for the c&h breakout to be successful)

Red line is fibonacci support line of .236 fib at 571 satoshis
If XVG retests and breaks down from 668 satoshi suport line, it should bounce back either around 571 or 500 satoshis,
SO...stack buys between 500-571 satoshi range

stop loss 491 satoshis

*IF* XVG follows this general direction, get an astronaut suit and oxygen tank for a moon mission afterwards
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