XVG And The Bullish Divergence
Updated
XVG is traveling in a descending channel on the 4 hour chart, while RSI has formed a symmetrical triangle. This has formed a long term bullish divergence (lower lows in price, higher highs in RSI). A bullish divergence in oversold territory is a "sweet spot" for me in trades, and is what I look for when attempting to predict a significant break out. Be careful, as BTC is still ruining setups - but this is starting to look difficult to pass on.
Note
"higher lows in RSI, not higher highs"
scott.melker@texaswestcapital.com
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