XVGBTC Pullback then 16-1800

BITTREX:XVGBTC   Verge / Bitcoin
Hello all! I have been in and out of this since I learned about it and one thing I noticed is that XVGBTC really likes to run and then catch up with itself. SO-

The bull flag as I have posted before is a CONTINUATION PATTERN. The bull flag is waving again here. The last time we had a meaningful pullback ( or last few) we punched all the way through a fib level ( denoted in color here) in one run, then had a blowoff ( long wick is a sing to get out on hourly 4 hr or daily) then we had sideways move and roughly a 300 sat pullback consolidation. Today I did not think anything different was going to happen. It was hard to sit out all day while price went up and Magic Poop did analysis BUT, patience is key in trading.

I think the pullback will land in the purple puddle, or it will just take off from here, who knows?

The RSI is in a downtrend, volume not confirming the move up, and most of the usually stuff I talk about ( marked in purple)

I will post the same chart pulled out to a wider view so you can see direction clearer.

Remember this is not trade advice. I post patterns I like and try to learn from these later to see how it played out.
評論: Same move coming? And where is the volume to turn around? Check RSI and volume for turn around.
評論: !5 minute chart update to show where we are. The moving average has crossed bearish ( circled). The Rsi uptrend ( purple line) is broken. Any buying should be done at the bottom of RSI now IMO. The arrow points the way. If we rally this would be a great price right here. IF. It would be better to have a correction that pulls us down towards the 200 EMA which is just above 10000. I am still holding for 1050-1065. If we broke hard across the trendline on original post and closed on the daily under then I am out until further notice VIOLATION.
評論: Sorry it is the 99MA on 1hr and 25MA on 4 hr and 7MA on daily on Binance. All these land you above 1000 but below 1075.
評論: target hit along with huge bear market rally in BTC. my account froze so din't get in. It might pull back down. waiting
評論: This has been prtty textbook. We are maxed on RSI and hit resistance. Maybe a breather then zoom past 1340 and to the races?
評論: Great volume though. I wish we could get a bottom like that with BTC so we can Lambo!
評論: Who has their moonboots on? Bounce off trenline has been good in this rally. IMO rally intact. Bounce off the 20 AND LT support line.
評論: OK! Here it is in specifics.

Bounce happened and now we broke out on a volume basis. We need to get through resistance at 1261 and 1312. There is a good chance we get caught here and go sideways and even channel between the two. this is all normal consolidation.

Notice the bounce off trendline and bounce off RSI. All circled in purple. We seem to have hit lower highs on RSI so I would look for that too on 4hr. It has been giving clearest signals to me.

Price target one 1592 price target two is 1899. I would personally not try for target two. I am mentioning this because of a lack of resistance up there and this move will want to keep on going if it moves.

None of this is a guarantee trade at your own risk this is not advice...
評論: Textbook bull flag playing out. Great consolidation and now we are decidedly above fibonacci level and winding up for a bubble up past the purple line and that will be a confirmed breakout. If we pass 1310 and 1340 then there is a lot of air up there and the rally would cut through there like a hot know through butter. The RSI at 4 hr bouncing where it should and RSI uptrend on this chart 30 min uptrend going.
評論: OK. I went and have drawn my lines again and added the bull pennant flag lines. Break out or break down. You know the game. I say break out. Not from a long standing opinion. Those lose your money. I made this from an at-a-glance look at the charts right now. Not from this chart but from next update
評論: Looks like a bollinger pinch coming and it could make an explosive move.

Below is the daily. Look at the cross in the moving averages which means we are in a BULL RALLY and the tendency will be to go HIGHER. Also look at the spread between the two moving averages is WIDENING upwards which is BULLISH> ( red arrows). ALL THAT BEING SAID WE ARE GOING SIDEWAYS FOR NOW AND BE FLEXIBLE WITH YOUR OPINIONS.
評論: BUY OR DIE! BTC overlay to show if BTC rally happens might want to sell out of this and stay in the majors. Anyways look at the RSI bottom and bollinger bottom. THAT IS WHEN I LIKE TO BUY...
評論: Failing now we have 2 hours to rally back or it is firmly over technically...
評論: This feels like a party that was fun earlier but now it's 1:45am and your hoping to meet someone in the next 4 minutes before the lights turn on and the party is over...
評論: POP! ABove trendline. Let's see how we do now. RSI parabolic. My theory is that a legit 12 week cup and handle forming...
Sell out?
orbsatchel manhattangrouplv
@manhattangrouplv, technically yes. I went against all i know and held through the violation and now I am back in the green. This is a garden variety correction in a bull move, healthy actually.
Thank you.
@drmphil3, I was down big in dollars from the crash and tether worry so I held all the way down. When it turned I wanted to accumulate BTC by getting in alts that move better. I found a few that work for me and I have faith that LTC or BTC will 2 or 3x from bottom. I am not saying ATH but if we bottom at 5k then 15 is doable IMO.
Question - as I watch this on binance..it seems the $ value hardly changes at all ...nice move on this one but the dollar value changed minimally from $0.06 area to $0.08 area. I think that is because the BTC as been going down. If this is correct, how can one really make a nice gain on this? I'm new and am only observing and trying to figure out...Thoughts?
@drmphil3, . If and when BTC turns around the dollar amount grows. You are right about BTC being down, but, XVGBTC has doubled my BTC amount. Here is compare of BTC and XGV in that time frame
1164 is a huge support and resistance line, I'd be surprised if we dropped past that, check it in the past and see what I mean, we bounced off of it yesterday, then we broke it then we dropped to it again but this time we bounced straight up off of it, I believe it's possible we will touch it, but I see in no way us dropping below it.
@Jared33, huge resistance and the fib line yeah. I would be happy buying at that level too. The good thing about technical analysis is anything can happen really we just have to plan for them :)
Jared33 orbsatchel
@orbsatchel, We had a massive run up, but it lead into a flag pennant, we will break it, Most likely it will break up
@Jared33, AGREED 100%.
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