As some of your already know, everything that goes down it will go back up and vice versa! After a long way down, is time for XVG to go back up! I will divide this AB=CD in 3 small analysis, and see how this operation will go.
Move Number I
This break out of triangle will take us to the first fib.level 0.236 (205 sats. ) If XVG finds support at that level that will confirm the second move!
Move Number II
Finding support at 0.236 fib level and stay above it, will be a confirmation for a breakout of the channel, and that will open another opportunity for a move up. Another AB=CD will be available that will take us to the 0.618 fib. level.
Move Number III
After we hit the 0.618 fib. level, well... there is the place where the institutions make their moves, and play with the profits they made from buying the bottom.
Conclusion:
Right now the price is 20% up from the 'bottom' of this last down trend, so if you are looking for a long term for XVG, this might be a good buy opportunity. If you have missed out the number I move, I will suggest you to wait for a confirmation at the 0.236 fib.level and see how the price respond!
Disclaimer : My posts are never financial/invest advice! For a favorable outcome, make your own research! Never invest more than what you can afford to lose. Don't forget, it's all about positive thinking and patience!
Remember, you should always use a stop loss!
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