#XVG/USDT analysis-
On the daily timeframe, following an all-time low, the price formed two ascending triangle patterns. Both patterns experienced a breakout within a single day, indicating strong buying pressure.
The first breakout resulted in a price increase of more than 77% from the breakout level, while the second breakout led to a gain of over 55% from its respective breakout level.
According to price action analysis, for the first breakout, entry could have been taken either at the breakout or during the retest. The stop loss would be placed below the triangle pattern or the higher low formed upon breakout.
Regarding the second breakout, entry would have been initiated immediately upon breakout since the likelihood of a retest is minimal, and the price could surge sharply thereafter. The stop loss would be positioned below the breakout candle.
Note: This post is purely educational in nature.