Acel

XVG/BTC - Potential breakout during the next hours

BINANCE:XVGBTC   Verge / Bitcoin
First, a little history on this. Mr. McAfee overhyped this coin during the holiday season period. After that it got a HUGE down trend. So now we are back. This coin is placed again into test!

You can see the potential movements in circles. I believe this would slowly start during the next 24 hours more or less.

First target is to break this week's down trend. Followed up by the down trend that started on 1/1. And last but not least, McAfees "curse". Note that it has break the support line before! I have placed it there for a reason and not taking into accoun recent bottoms!

This seems like a high risk - high reward to me, so invest with extra caution ! I cant bold this enough! :)
Trade active: Note that orange could go either way! Probably on a ABC pattern.
Comment:

Seems like this escalated quickly! Post wasnt up yet and it bursted! ( for now.. )

It seems like its aiming for 2 targets at one! Also aiming for 382fib, hopefully it would find support at 236fib for now.
Unfortunately i wont be updating this for the next hours since its pretty late with my timezone.
Remember that BTC pairs are always tricky! Trade carefully!
Comment: Unfortunately the volume is pretty low YET!
Oh, it looks like they will have some news today ( Monday)
Comment:
Comment:
Today's target is 1fib level as peek ( in case u wanna get out ) and 786fib as support ( if you want to stay on this.

Hopefully we will see better outcome, but the volume is ridiculously low as of now. I will take a look on this again in about 150mins or so.
Comment: The volume on this is ridiculously low. probably its gonna follow the down trend and find support around 0.5 fib (1331 sats). There is a chance that something good or bad might happen around the orange cirle. Most price actions start around that time frame USUALLY.
Comment: Volume is sloooowly increasing, i think it has a shot now but it needs more volume.
Comment: Heikin Ashi + Parabolic SAR seems promissing too, like 10 hours ago.
Comment:
1042 satoshis was a good resistance before it took of at 23/11 and it acts as a good support for now. Expect it to revisit it before we see a movement. Last defence is around 974 satoshis. The whole market had a down trend and XVG is no exception.
Areas in orange circle is were i expect a move.
Remember, this WAS and still IS a high risk trade.
Comment:
Comment: Alright, a quick update on this. So, i have been busy with Bitcoin and completely ignored altcoins. What i see in XVG for now is probably another dip around the solid support of 1042 sats. RSI is at 38.6 currently and judging by its history its a little above than the average lower RSI point.
Its still insde the downtrend since the McAfee bump, but its should make a move during the next 4-5 days max, or else...yeah..
I will update this if i see something interesting in the next couple hours.
Comment:
There is a smal DIV in the RSI ( not so clear ) so most likely it will follow the orange arrow in the next hours. NOW! Watch for the volumes at the end of the orange arrows. If it doesnt break upwards at the end of the first arrow then it would go down and test later the potential breaking down.
help me vibe coin :(. i'm buy 2.6$
Reply
Acel hodinhcan
@hodinhcan, it seems like you bought right at the top..damn!

You cant do much right now since the whole market is going down at this period. I havent heard much about the project other than Crypto Daily mention it for a possible good coin for 2018. So i would suggest to just hold it for now and wait for the market to recover...

If you like the project and believe in it, leave it as it is for at least 7-10 days and reconsider your options. If you dont like it, wait for it to reach near 2.6$ and sell with a minimal loss.

Generally, its NOT good to sell it right now, its almost 50% loss, so HOLD it and check again in a few days. Its on Binance so most likely it will go up in the near future.
Good luck. :)
Reply
@Acel, thank Acel. love you
Reply
Acel hodinhcan
@hodinhcan, no problem, just do your research next time and dont buy when it when its too high. Two general rules that work pretty well on cryptos.
You can also check other more experienced traders about their opinions on coins that you are interested in for a more all around opinion.

Take care.
Reply
Have an update for us?
Reply
Acel aCourtesySniff
@aCourtesySniff, hey! im on the go so icant say anything for sure... I need to check the movement on btc too. This is the image from my chart. it can break out soon.
Reply
@Acel, Let's hope a breakout happens. All this hype gotta be good.
Reply
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