During the past few months XVG/BTC formed a very nice bullish trend in the ascending triangle.
For the bullish signs
- The ascending triangle has been broken to the upside ;
- The 0.382 fib level, 54 sats (which was a previous resistance), has been broken to the upside as well ;
- We have an increasing volume on this pair
- 58 sats level acted momently as a resistance, which was quickly broken to the upside ;
But :
- The price recently got rejected at the 0.5 fib level, i.e. 64 sats ;
What can be expected :
- The previous resistance level, 58 sats (in purple rectangle) may act as a support, if so we can expect a retest to 64 sats which will be the fourth time of this ascending triangle, if not i would expect a retest to previous the previous level, 54 sats ;
- If the retest breaks above 64 sats we can expect the price to grow to higher level as illustrated.
For the bullish signs
- The ascending triangle has been broken to the upside ;
- The 0.382 fib level, 54 sats (which was a previous resistance), has been broken to the upside as well ;
- We have an increasing volume on this pair
- 58 sats level acted momently as a resistance, which was quickly broken to the upside ;
But :
- The price recently got rejected at the 0.5 fib level, i.e. 64 sats ;
What can be expected :
- The previous resistance level, 58 sats (in purple rectangle) may act as a support, if so we can expect a retest to 64 sats which will be the fourth time of this ascending triangle, if not i would expect a retest to previous the previous level, 54 sats ;
- If the retest breaks above 64 sats we can expect the price to grow to higher level as illustrated.