$CVC Trend Reversal
Updated
Hey Guys,
I just charted this, let me know what you think.
We were sitting at the bottom of the fib retracement a few days ago and had a some large pick ups.
From the previously established trend line in the first break out and break down. we can see that CVC sat right on top of the support for a while. It tried to break out a few times as you can see from the trends to run but failed.
We should be seeing a breakout soon.
Another indication of this coin has reached the support is due to the fact that even during the btc spike, cvc recovered and held its ground.
Once cvc breaks out we can see a large amount of gains. However, we will be encountering some resistances along the way. This is both good and bad because you can take some profit by scalping but it will take a bit of time before it can fully reach the ATH.
I just charted this, let me know what you think.
We were sitting at the bottom of the fib retracement a few days ago and had a some large pick ups.
From the previously established trend line in the first break out and break down. we can see that CVC sat right on top of the support for a while. It tried to break out a few times as you can see from the trends to run but failed.
We should be seeing a breakout soon.
Another indication of this coin has reached the support is due to the fact that even during the btc spike, cvc recovered and held its ground.
Once cvc breaks out we can see a large amount of gains. However, we will be encountering some resistances along the way. This is both good and bad because you can take some profit by scalping but it will take a bit of time before it can fully reach the ATH.
Note
If cvc does not hold the trend by the end of the month, we may see a large-scale breakdown.
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