Patience...XVG

23 apr 2018

Daily
Looking at our trend timeframe we can see price has recently been rejected @ 0.00001300, and has since then remained bearish. Currently testing support @ 0.00000770. Looking for a daily close above 0.00000850 before taking any long positions. Stochastic RSI showing momentum is slowing down.


4Hour
Shifting over to our pattern timeframe we can see price is currently testing our trendline. Possible break towards 0.00000550 if trend does not hold. A break and close above 0.00000810 could lead to a higher high. However a break and close below our trend leads to another leg in the bearish wave.


Hourly
Lastly looking at our trigger timeframe we can see a descending triangle has formed.
Expecting a breakout soon, a break towards the upside activates a long trade. A breakdown and we wait till we find support @ 0.00000550