In the cryptocurrency world where speculation is king, technical analysis most of the time is our best friend.
Here is a simple scenario where XVGBTC touched the 61.80% retracement level, possibly a big resistance. A nice opportunity to enter, aiming to the 161.80% extension level.
(You can set up stop loss a few points below 78.60% level - where I find this...
Hello, The chart explains everything.
Before you reach higher TP's like $7500-10,000 per bitcoin, you need to go down, before you go up.
Also remember, the Chinese shut down of exchanges is a rumour as of now.
I don't trade crypto-currencies myself, But this could be a moderate price correction.
Short Bitcoin to $2800-3500.
- Divit -
P.S: If you see an inverse...