Long
XVG/BTC - Bears fallen asleep, bulls waking up!
Updated
Looks like the bears have exhausted themselves! Verge is a buy for me at these levels.
My reasoning:
Based on my rules this is a textbook trade. I'll be looking to sell in the red box for a 30%+ profit from current prices.
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My reasoning:
- Location/structure: A floor seems to have formed at 40 sats which was tested 3 times over the last week - giving us a double bottom.
- Divergence: Confirmed histogram div + RSI div (coming out of oversold on the daily). Willy coming out of stupid. OBV crossing above the 13EMA.
- VPVR: Strong POC support. Sneaky notch above.
Based on my rules this is a textbook trade. I'll be looking to sell in the red box for a 30%+ profit from current prices.
Hit the LIKE button if you like my analysis and want to support my channel. Follow to make sure you don't miss any future trade ideas.
Trade active
Entered at 44 sats. Holding strong despite yesterday's BTC volatility.
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