VERGE (XVG/BTC): Breakouts in Both Price & MACD!!
SUMMARY
VERGE (XVG/BTC) has broken out in both price and MACD. The below chart shows the types of patterns, Elliott Waves and Indicator (MACD) I've presented in other coins. The breakouts of this type are exactly what my analysis is projecting. So, what next? I personally require two rounds of impulse waves up to become convinced of a trend change. Note how I didn't say to buy; that's been done well in advance of the turn using the laddering technique.
The closeup of the waves show that the first round of impulse (blue waves) are currently in progress. I believe wave 5 up is in progress. Following that, a minor correction before the second impulse setup. It won't be a staright up process and also Bitcoin (BTC) has to collaborate or lead.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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Not sure how verge is holding so well tbh
The team is announcing a "huge" partnership on the 17th.
The 1200sat range is what I had pegged for a target as well. Thank you for confirming! And thanks for taking the request!
Great analisis master!
This is mine...
wish you all massive profits!!
@haejin I love the analysis and break down
Easy to comprehend
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Nice post
Gracias @haejin por compartir tu analisis, cariños y besos.
Coins mentioned in post:
@haejin I love the analysis and break down
Easy to comprehend
Darn was hoping for a wave C as I thought we hit the top of the fifth. Thank you for posting!
So was I:)
Here is what I think is going to happen. It just makes the most sense to me. The C wave could hit 600 but I wouldn't expect it to drop too much. XVG is on fire. This drop would invalidate the motive spike back on the fifth.
I've been studdying XVG/BTC chart and what puzzles me is the spike back on the 5th. That spike would have to carry a full 5 waves (which it doesn't) and that would mean that the 5th wave we are in is going to be a extended-extended fifth. In other words get ready for a HUGE uptick so that we can use the spike on the fifth as wave 1 to a sub wave. OR we are in a ABC correction still. I see the cup and handle formation but dropping into a wave C would not invalidate the cup and handle. This is a tricky one. As of writing this comment we are dropping in price from our last touch of the top of the handle. It seems a bit funky if this is our sub wave 1 of our fifth wave. I re bought just in case we are going to jump. I am still leaning towards a low only because the current motive waves are not strong enough to justify anything substantial.
PS The line drawn across represents the top of the handle and I am targeting the cup and handle formation to 1600-1700 sats.
Nice TA.
15 days ago's
https://steemit.com/bitcoin/@goldmine2018/verge-will-proof-his-place-in-the-top-cryptocurrency
https://steemit.com/japan/@bafspotlight/the-rise-and-fall-of-the-japanese-empire