Hello everyone and welcome to my daily chart analysis of vergecurrency XVGBTC.
First of all I would like to point that on daily chart to confirm a bullish formation we need to close above 95 sat. First resistance on daily is seen at this level followed by 61.8 fibonnaci level at 107 sat where also we have 141.8 fibonnaci level from previous measuring. Once this level is broke next important resistance lies at 114-116 sat where we have a double fibonnaci levels of 161.8 and 78.6 from where we may have a retest of 103-107 sat area from where I would expect price to break previous high of 128 and make an attempt on 127.2 fib at 143 sat. After that I would expect price to retest 128-114 level area (yep this zone is larger than other ). And after retest of this levels I would look to get towards 155-162 area where we have multiple 161.8 fibonnaci extensions. Also I would like to point that if we get strong trend upwards we may not respect levels or someone may want to push market higher knowing that there are multiple fibonnaci levels at the same price point to fool people into buying higher.
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
"A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
@valesmr88, I don't know what do you want me to update? There is nothing to be added to what is said, targets are respected (first one reached today) but I think we are going higher. There has nothing change
valesmr88
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@Coder775, I just wanted to know your opinion, and if the targets were maintained. Thanks for the clarification and excuse if it was inconvenient.
Coder775
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@valesmr88, no, feel free to ask any time, but just to make sure that everyone understand what am I trying to show is that sometimes this scenarios take time, and if anything will change I will do update =)
sorry I had a few rude messages recently about my analysis and that sometimes they don't play out as i showed but it's the market and you should always put stops =)
sunnyfierro
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what do you think now about H&S formation? I see it right or is too soon?
than there is high probability
But on other side I don't really see it dropping for retest of 80 sat area. If it will happen than yea. We didn't even get 61.8 fib today on slide, someone didn't want it to reach 61.8 .
Coder775
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@sunnyfierro, also take a look at my analysis from yesterday on 1H chart, over there i pointed 86 sat as support and so far we are defending it on 1H