I've been staying away from alt coins for the main reason that everything has been on a downtrend. Now, it may be too soon to start getting in alts, but I held my lisk & rebought OMG on the break out, both were good trades. I feel like I can start making posts about alts again. I don't think the correction for BTC is over yet, bare that in mind, we could see verge go down in USD dollar, BUT BTC is very close to a level where we might start seeing up and only up. Only time will tell. Now lets talk about verge. I got in at 740 satoshi when It retested it's resistance line about an hour ago. I am waiting for a pull another back before buying more, or a break above the .236. fib. Verge broke it's red downtrend line, and is now trading above the 20 SMA. It is trading over it's bollinger bands. I expect a pullback sometime soon. The MACD looks good. I like to think of markets in 4 stages. I believe we are transitioning from stage 1 to stage 2. Remember, BTC is not out of it's bear trend yet, investing in alts is risky. Keep a close eye on them.
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*" got in at 740 satoshi when It retested it's *SUPPORT line*" Made a writing error sorry, was watching verge while writing, it went up really fast. had to make sure i sold some at 850 satoshi.
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Please note this is a risky trade. BTC is in a very uncertain area. I expected a pull back to this 740 satoshi level, as shown in the chart. If this level doesn't hold up. I am looking at the 20 SMA. It is very possible we are still in stage 4, and this is a bull trap. If you are invested in this. a definite stop loss imo should be below the blue 100 day MA. A short term stop loss below the 20 SMA for safer traders. I just added to my position at 740 satoshi, and looking to add some more around the the 20 day SMA if it reaches. With a stop loss a little below the 20 day SMA. I could get whipped sawed out though. Remember, this is a risky set up!
