Verge (XVG) Consolidation (Important for Future Movement)

BINANCE:XVGBTC   Verge / Bitcoin
Verge (XVG) has been the target of a lot of buzz and volume , and as we approach New Years, the chart seems to reflect the uncertainty of the buyers and sellers. On a smaller scale, there is a visible symmetrical triangle, nearly perfect at each being 20 degrees, whose breakout will likely determine the path of Verge.

There is also a potential larger bearish pennant , yet this consolidation could very easily result in a rise should the news prove bullish enough over the next few days. Very likely, the movement from this triangle will likely be determined by the breakout of the former. I am uncertain on this pennant , but I do believe there is certainly consolidation occurring after this downtrend.

Should we break out from the smaller triangle, we could reach 0.0001395 BTC , and from there on 0.00001757 and onwards as the all-time high is tested - given the bullish sentiment around XVG, I would not be surprised if it shot much higher than 0.00001757. If we break down on the smaller triangle, we could head to 0.00000778 BTC , a good entry point if you wish to play within the triangle's movement, but be careful, because a break downwards could very much result in reaching 0.00000341 BTC , depending on how strong the resistance at 400 satoshis are - otherwise, we could very well end up along the low 300s.

Wherever Verge will go is not very clear to me, but there is certainly high movement coming for Verge. I would suggest monitoring and waiting for confirmation, perhaps around 0.0001260 BTC for the breakout or 0.0000850 for bearish movement. Very risky to hold without setting stop losses. Trade with care.
Kommentar: Still consolidating in this smaller triangle... waiting and observing.
Trade geschlossen: Ziel wurde erreicht: Little late on the update here, but the target was reached. Congrats to all who benefited from this trade!
man i love your analysis, spot on, please publish more often :)
@shayp, Thanks for your support! I look forward to improving the quality of my future analyses this year, and similarly, publishing more. Happy New Years, I am sure there will be more than enough abundance to go around in 2018!
Is this a good sign?
Luiserebii rsedaaghi
@rsedaaghi, I suppose it depends what you mean by good. There is certainly potential for profit either way
+1 Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden