XVGUSD - Grab a Snickers

Jan 12, 2018

It's not going anywhere for awhile.

Everyone has been posting the triangle, but they don't tell you the base support line has been shifting over and over again. Recent bearish action broke that support, so it's no longer a triangle. The MACD is likely going to reset back to 0 from all this consolidation. Frankly, that's a great sign that the bulls have propped this up despite the strongly bearish MACD signal.

The MACD should be back at zero in a 5-7 days. I expect more consolidation until news pushes this upward.

Disclosure: I'm long @ 0.19

Jan 15, 2018

Note

Sure enough, we're still consolidating and still waiting on that MACD on the daily chart. We won't go any higher until that thing crosses upward with conviction.

Jan 15, 2018

Note

Updated chart: tradingview.com/chart/1UJYqNAW/

Jan 18, 2018

Note

The cryptocalypse certainly got us there faster..

A run to .13 is in the cards but what happens there is anyone's guess. There's some significant time until the MACD looks like it's going to cross again.

Jan 25, 2018

Note

We hit .13 the other day (1/20) and now we're just languishing, waiting on BTC to take a direction. The huge descending triangle on BTC says we're heading to 5000 which will certainly bring XVG down, but we may regain positive momentum. Let's wait and see.