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...
Ichimoku Kinko Hyo:
-Tenkan Sen just crossed Kijun Sen.
-Kumo Cloud is still Bullish
There are just 2 conditions left to see BTCUSD moving upwards (to a new ATH?): Chikou above the price 26 periods ago and the current price breaking up the cloud.
Wait for all these conditions to be met and we have a high probability of BTCUSD recovering from this correction.