XVG Fall
Updated
Target: The area of interest [blue]
Reason: Data shows rejection of bulls below the exclamation mark [Heavy drop down immediately followed by breach]. After dropping down XVGBTC price has been staying underneath 50 EMA zone [4H] without going over the line. A retest may still be possible but the symmetrical triangle shows that the price leans more towards the bottom. Volume has been low also. My eyes tells me that a H & S pattern could be forming as drawn.
Reason: Data shows rejection of bulls below the exclamation mark [Heavy drop down immediately followed by breach]. After dropping down XVGBTC price has been staying underneath 50 EMA zone [4H] without going over the line. A retest may still be possible but the symmetrical triangle shows that the price leans more towards the bottom. Volume has been low also. My eyes tells me that a H & S pattern could be forming as drawn.
Note
A closing price below the right shoulder could indicate the beginning of the drop.
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