OK folks. I'd like to start by mentioning I'm not a personal fan of new privacy coins in the space as a monetary long term investment until we see how world governments decide to regulate the space. In my honest opinion, these would be the very 1st targeted and removed from exchanges of volume and forcing it into the hands of people who use it as a privacy currency despite regulation and not an investment per se. That said, XVG seems to have followed the TRX hype machine example and has developed a fair amount of interest through social media on personal emotion and shows a lot of functional promise in privacy. It's also supported by an army of people pushing it to regain massive losses from hodling XVG from Dec 2017
For now, XVG has my attention for a potential swing or day trade with it's violent price swings and can be quite profitable. Lets take a look at the chart.
XVG is presently trading inside a Symmetrical Triangle, of which in reality will play out into a break up or down from an ascending or descending triangle like shown. With the market once again ramping up emotions and Fomo / Hype buying, I'm really not sure if taking profits or more upward parabolic movements are in store for XVG. I'm personally watching closely for a movement and break from one of these two triangles to enter a trade. I've outlined some areas of interest so you can simply press play on my chart to gain an understanding of the direction it's moving in my observations of potential. a break either way could be significant short term.
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For now, XVG has my attention for a potential swing or day trade with it's violent price swings and can be quite profitable. Lets take a look at the chart.
XVG is presently trading inside a Symmetrical Triangle, of which in reality will play out into a break up or down from an ascending or descending triangle like shown. With the market once again ramping up emotions and Fomo / Hype buying, I'm really not sure if taking profits or more upward parabolic movements are in store for XVG. I'm personally watching closely for a movement and break from one of these two triangles to enter a trade. I've outlined some areas of interest so you can simply press play on my chart to gain an understanding of the direction it's moving in my observations of potential. a break either way could be significant short term.
Please Like, Follow, comment, and check out my profile signature if you find this information helpful and objective!
Comment:
XVG broke down. Let's see where we stop for re-entry
Comment:
The drop pulled back into the wedge with only a wick remaining so still a chance at an earlier move up
Comment:
XVG is looking as though it will follow BTC now. If you imagine the green wedge in the chart being extended out to the white trend line, that's the next area of interest for it.
Trade active:
As can be seen above, XVG has continued a consolidation within the lower target and gan/trend lines/ Now encountering the last area of interest before falling into more bearish targets. Its pretty critical for XVG to see buy side momentum soon to be yanked back into the realm of gains! Watching closely for continued evidence of direction from here.