On track for my previous analysis of the Prime Wave reset. Thanks to a 17% kick in the nuts from btc mind you!
XVG needs a good reset down to 312 or 50 Fib level to springboard it back up to 1500+ in time for the news on the 17th.
XVG showing a series of lower highs and a series of horizontal lows, which created a descending triangle chart pattern. Traders would look for a definitive breakdown from the lower trend line support on high volume before taking a short position in the stock. If a breakdown did occur, the price target would be set to the difference between the upper and lower...
As per previous T/A - I had mooted the idea that a major reset was due at or on 3050, the end of a 5th wave on a Prime cycle.
XVG moved up and I then planned for a new Elliot Wave up to 1500+
Turns out my initial projection was probably right, it looks like we are on for a big reset now.
A Bullish scenario that is invalidated if Bitcoin tanks or Donald Trump declares he is impotent so had a fireside chat and coffee with Stormy Daniels.
1500+ target, this moves out to 1600+ if higher than a 1:1 Fib extension on the final wave.
Positive sentiment and circling Bulls make this coin unpredictable, expect sideways trading proceeded by almighty...
Prime wave projection based on Fib Extension 1:1
Then retracement, possibly 50 - 618 Fib
Then Moonshot to upper 1500's +
1-6 day scenario
Invalidated by BTC being pulled down by FUD # 3112844859 and any scandal news on Alts, and a meteorite slamming into Trump Towers.
Not financial advice
Chances are Bears will prevail - if so, this could retrace to 8200 and then some! Remember the November support of 5500?
If the bulls wake up and use their BTC testosterone - then it's looking like a new high for 45 days.