XVGBTC Continuation Pattern
Updated
See related idea below for more context and market overview. Two possible bullish continuation patterns are emerging, including a bullish pennant and a descending triangle. With StochRSI oversold (and careening towards a reset) and Ichimoku signalling short- to intermediate-term bullish conditions, one expects to see a breakout from the current level towards the local high 0.00001350 for a brief consolidation en route to TP3 at 0.00001534 (from linked chart). SL moved up to 0.0001138 to lock in profits from original entry at 0.00000939. If the pennant/triangle breaks down the retrace should find support on the 50MA.
Trade closed: stop reached
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