Long
Buy XVGBTC (end of declining middle trend)
Primary trends. The weekly chart shows that from August 2018 to November 2020 there was a declining primary trend, which ended with the formation of a double bottom. From November 2020 to November 2021, the primary trend is upward, as its support and resistance lines are upward.
Date Price
Beginning End Beginning End
#1 August 2018 November 2020 262 22
#2 November 2020 Today 22 39
Assumption - now prices form the second point of the support line. If the assumption is correct, then the current trend is upward and this is a great opportunity to open a long position.
Middle trends. The daily chart shows 3 middle trends. Middle Trend #1 refers to Primary Trend #1 (completes it), Middle Trends #2 and #3 refer to Primary Trend #2.
Date Price
Beginning End Beginning End
#1 June 2020 November 2020 104 22
#2 November 2020 May 2021 22 150
#3 May 2021 Today 150 39
Middle Trend #3 is formed according to the wedge model. The magnitude of the movement is estimated based on the height of the wedge at the beginning, so in the short term, an upward movement of 35 to 75 should be expected.
Thanks for reading. I will be glad of your comments and observations.
Date Price
Beginning End Beginning End
#1 August 2018 November 2020 262 22
#2 November 2020 Today 22 39
Assumption - now prices form the second point of the support line. If the assumption is correct, then the current trend is upward and this is a great opportunity to open a long position.
Middle trends. The daily chart shows 3 middle trends. Middle Trend #1 refers to Primary Trend #1 (completes it), Middle Trends #2 and #3 refer to Primary Trend #2.
Date Price
Beginning End Beginning End
#1 June 2020 November 2020 104 22
#2 November 2020 May 2021 22 150
#3 May 2021 Today 150 39
Middle Trend #3 is formed according to the wedge model. The magnitude of the movement is estimated based on the height of the wedge at the beginning, so in the short term, an upward movement of 35 to 75 should be expected.
Thanks for reading. I will be glad of your comments and observations.
Note
weekly chart
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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.