Welcome back to TJs' Trade Corner!! Today we will be taking a look at the very interesting chart of XVG. As many of you know, I hae an interesting history with XVG. I have always been amazed how XVG pumps and pumps out of nowhere and how amazing it is just to ride its waves. We will even focus only on the last few months, not the really big pumps to 1000+ sats.
First of all the marketstructure. As expected we see a form of a falling wedge on XVG on the 3D chart. This is so much expected, as all Alts have been bleeding hard over the last two weeks and starting to show strong divvergences, same as a bullish patterns. Here, the falling wedge is a part of a retrace and that overly not supported by the volume. As much as this space is a meme, we have seen a pump on the previous candle to 169, which might have been the first indication for the soon to come breakout. That number will be important for the trade set up.
Something very interesting that has been pointed out is, that we are approaching a very important support at 138 sats. The fact that this would be the first test of that level, we have strong chance of holding that level and not breaking the support. In addition, there is reason to believe that a bounce like the first one is very likely. This would be approximately 64% within the 3 days of a bounce. Supporting this, would be the fact of a double bottom on Higher Time Frames.
Last time, before the big bounce, we had a doji with almost significant volume backing it. Should we see the same or even a bullhammer on this one, there would be no better inidcation. Nevertheless, there might be a chance of the next few days closing red and then followed by the doji. Currently, the market is still indecisive, we might need a few more days of BTC consolidation, before Alts can start popping and booming again.
Pretty much like ADA, the TJ-Stoch is approaching the 40p line and has a high chance of a rejection there, with the possibility of an impulse-move. An impulse move on the 3D is very strong and might actually reach 64%.
This trade has been published before in my private learning group "ETG". We are going over many observations and possible trades very frequently. It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading.
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I would buy this shit at 10- 12sats or never buy this crap. It always allured me, thankfully I have only thought of getting in it but never bought this crap. Good luck to those who have a shitload of this one. I know a friend who has this who bought it at highs of 2018. He still didnt sell it.
AlphaTrader_
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Nice TA! Let's see what's going to happen. When the marked is chaos XVG always does something crazy.