Virtual protocol - waiting for re entry
The price dropped below the previous week mid and the previous monthly high. Currently the price is hovering over EMA55 and Fib 0.618. MACD lines are widely apart and diving into the bear territory so the price correction is still in progress. However, 1H momentum indicators are starting to form positive divergence and moving its way out of overbought territory. I will continue to focus on the 4H chart. If Virtual continues its bull trend, I anticipate the price will start to move upwards somewhere between Fib 05 and Fib 0.786 level (between previous week mid and low area). MACD has been very reliable indicator for me to enter the market. I will wait for MACD lines to cross and move upwards.
Bitcoin is going through a temporary correction so overall cryptomarket might be affected by it.
Bitcoin is going through a temporary correction so overall cryptomarket might be affected by it.
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