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VERGE is overall bullish trading inside the blue channel, and since it is approaching the lower blue trendline, we will be looking for buy setups on lower timeframes.
on H1: XVG formed a valid trendline in red but this setup is not ready to go yet. We are waiting for the buyers to take control. (projection in purple)
Trigger => Waiting for a momentum candle close above the last swing high. (gray area)
Until the buy is activated, XVG would be overall bearish and can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
VERGE is overall bullish trading inside the blue channel, and since it is approaching the lower blue trendline, we will be looking for buy setups on lower timeframes.
on H1: XVG formed a valid trendline in red but this setup is not ready to go yet. We are waiting for the buyers to take control. (projection in purple)
Trigger => Waiting for a momentum candle close above the last swing high. (gray area)
Until the buy is activated, XVG would be overall bearish and can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT