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Shwayze
Feb 27, 2021 10:29 PM

XVS - Falling Wedge, Potential consolidation and double bottom Long

XVS / TetherUSBinance

Description

XVS (Venus), is basically seen as the COMP of Binance Smart Chain. This is important because of how high Ethereums fees are lately.

You have seen me do charts on CAKE, BAKE, etc within the last month. BSC is a big economy, and I think it is a trend for this spring.

From a Technical Analysis, Venus has a 61.8% retrace and should find common ground to launch off soon. If we have a double bounce we should see strong volume pushing up. This spot has been a place of previous resistance, now turned support, so it is extra effective.

Comment

Having trouble breaking through this level, the 50% Fiboncci retrace. We could retest a 3rd time below.
Comments
WithAim
It looks like we bounced right off the 200 ma, right? hopefully we can get some volume.
MoneyMakerTrade
Great work!
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