XVG remain in it's consolidation phase and I'm thinking this could take 2 possible paths.
1 : Testing back the 1.8ct area then bouncing and breaking the consolidation higher.
2 : Going to test the low of the pattern around 1.5ct then bouncing and breaking the consolidation.
When i see the Weekly MACD staying in red my bias would go for option 2, ideally with a long wick down to get ride of SLs under 1.8ct, which in my opinion would be the best scenario.
The long term move stay unchanged and i believe XVG will reach new ATH next year.
Stay patient and don't panic !
1 : Testing back the 1.8ct area then bouncing and breaking the consolidation higher.
2 : Going to test the low of the pattern around 1.5ct then bouncing and breaking the consolidation.
When i see the Weekly MACD staying in red my bias would go for option 2, ideally with a long wick down to get ride of SLs under 1.8ct, which in my opinion would be the best scenario.
The long term move stay unchanged and i believe XVG will reach new ATH next year.
Stay patient and don't panic !
