Hi guys. Here's a quick analysis of XVG/BTC on BINANCE. Enjoy!
• The last time XVG was oversold according to the RSI (Nov. 20.2017) , we saw a dramatic increase in price after 22 days.
• The current RSI trend that began on December 20th is what appears to be a magnified fractal copy of what happened between November 6th and November 26th. At the end of said period we saw an increase in price of over 2500%.
• Over time (since the end of December’s bull run) we’ve seen the price retrace to two very clear Fibonacci retracement levels: 61.8% and 78.60% (which XVG is kissing at the moment).
• Volume has been very low lately and any increase in interest will be reflected here.
In order to see a reversal in the trend, we must remain above the 78.6% FIB level (.00000486 SATS), such reversal will be confirmed when we pass .00000525 SATS.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
• The last time XVG was oversold according to the RSI (Nov. 20.2017) , we saw a dramatic increase in price after 22 days.
• The current RSI trend that began on December 20th is what appears to be a magnified fractal copy of what happened between November 6th and November 26th. At the end of said period we saw an increase in price of over 2500%.
• Over time (since the end of December’s bull run) we’ve seen the price retrace to two very clear Fibonacci retracement levels: 61.8% and 78.60% (which XVG is kissing at the moment).
• Volume has been very low lately and any increase in interest will be reflected here.
In order to see a reversal in the trend, we must remain above the 78.6% FIB level (.00000486 SATS), such reversal will be confirmed when we pass .00000525 SATS.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***