I was asked to analyse xvgbtc by the user @Nagat on TradingView in my last BTCUSD analysis comments. I wanted to analyse it tonigt for all of you in a common benefit for every trader.
So lets start. The most important signal from the analysis is that we are taking a positive golden cross run alarm from the daily chart of XVGBTC. The 50 days MA is crossing 200 days MA from below means it is positive confirmation for the upcoming bull run and signal of average boost to upper levels soon these week.
The second most important thing in the technical view is that we have possible cup formation incoming with the active bull run. This is a possible scene and a common prediction for daily charts to be happen. The road map may not be accurate but this is likely to be happen depending on the btc dominance level in the market.
The horizontal lines represent the targets in the drawn chart is 181% max growth to 16% sl. The arrows are showing the higher lows from below as it is also a great signal for the incoming rise. Lastly in the position chart the green and red arrows are representing the alert zones. Your tp levels were given as it will take time and dominance to pullback for verge to move that levels.
As we all want and analyse bitcoin dominance chart is going down in the bigger picture this is likely to be happen soon or later. Any of these are not a financial advice as I am not a financial advisor but only an analyst. Feel free to ask your questions in the comments or message me on TradingView as which asset analysis you want to see next?
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I'm sorry for the spelling mistakes for not taking time to review it. These weeks* and tonight* :)