Verge (XVG) Potential Outcome
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Some things I've noticed on the 4HR chart:
- Look at that bullish cross between the blue convergence line and the red baseline! It's been over a month since we've had a bullish cross happen.
- Could that be an inverse head & shoulders pattern forming? Notice the small bounce off of that horizontal support line (thin blue line) I've drawn out. If price continues up, then breaks through the resistance line (thick black line), we might see some more bullish movement.
- RSI is showing higher highs and higher lows which could mean this baby is starting to trend upward. Will it break through the 50% diagonal resistance line and continue towards the 70% level?
- Kumo cloud is within reach. If price action starts trending up, we may see a breakthrough that kumo cloud. If so, we may see price test the top of that cloud.
- On March 20th, price action broke upward through the baseline (red line) for the first time since mid-february. It retraced below the baseline for a brief moment and looks to be bouncing off of it. Let's see if this baby can go any higher.
- If you dial out to a few months, you'll be able to see that XVG has broken out of the descending wedge pattern with some sideways movement. What's next?
I am no financial advisor! Do your research before making any investments. PROTECT YOUR CAPITAL!
- Look at that bullish cross between the blue convergence line and the red baseline! It's been over a month since we've had a bullish cross happen.
- Could that be an inverse head & shoulders pattern forming? Notice the small bounce off of that horizontal support line (thin blue line) I've drawn out. If price continues up, then breaks through the resistance line (thick black line), we might see some more bullish movement.
- RSI is showing higher highs and higher lows which could mean this baby is starting to trend upward. Will it break through the 50% diagonal resistance line and continue towards the 70% level?
- Kumo cloud is within reach. If price action starts trending up, we may see a breakthrough that kumo cloud. If so, we may see price test the top of that cloud.
- On March 20th, price action broke upward through the baseline (red line) for the first time since mid-february. It retraced below the baseline for a brief moment and looks to be bouncing off of it. Let's see if this baby can go any higher.
- If you dial out to a few months, you'll be able to see that XVG has broken out of the descending wedge pattern with some sideways movement. What's next?
I am no financial advisor! Do your research before making any investments. PROTECT YOUR CAPITAL!
註釋
Are we about to see a Kumo twist or what? If that cloud goes green, that's generally a bullish sign. Reference: kumotrader.com/ichimoku_wiki/index.php?title=The_kumo
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