XVG on the dawn of a new Spike
XVG was, along it's fellow friends, going through a though phase lately. This might come to an end according to that old mathematician from 12th century, Fibonacci, or at least a spike.
The price benefited from a long trend without any big surprises. But what is even more interesting is the pattern in place since early December (the start of the rise). The price followed, a part from the trend, a series of spikes that are surprisingly (or not) similar one to the other. Next break might happend on the next Fibo time zone start.
Look out for any sign of rebound during the next Scotch RSI bump. It it follows the previous spikes it could rise quickly, but will also crash quickly right after.
On the longer hand, ignore those spikes and focus on the longer trend which as written on the graph, keep rising without resistance. But don't ignore the whole market who is currently under pressure due to south korean events and media pressure in general.
Analysis done by The Foil
09.01.2018 22:20 CET
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Disclaimer: The content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
I write for analyzing, learning & discussing general and generic information related to investments and strategies. No content on the site constitutes - or should be understood as constituting - a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented in our site content. I do not provide personalized recommendations or views as to whether a stock or investment approach is suited to the financial needs of a specific individual.
The price benefited from a long trend without any big surprises. But what is even more interesting is the pattern in place since early December (the start of the rise). The price followed, a part from the trend, a series of spikes that are surprisingly (or not) similar one to the other. Next break might happend on the next Fibo time zone start.
Look out for any sign of rebound during the next Scotch RSI bump. It it follows the previous spikes it could rise quickly, but will also crash quickly right after.
On the longer hand, ignore those spikes and focus on the longer trend which as written on the graph, keep rising without resistance. But don't ignore the whole market who is currently under pressure due to south korean events and media pressure in general.
Analysis done by The Foil
09.01.2018 22:20 CET
----
Disclaimer: The content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
I write for analyzing, learning & discussing general and generic information related to investments and strategies. No content on the site constitutes - or should be understood as constituting - a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented in our site content. I do not provide personalized recommendations or views as to whether a stock or investment approach is suited to the financial needs of a specific individual.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.