tdupuy

XVGBTC - Wrong Correction, Breakout looming

Long
BITTREX:XVGBTC   Verge / Bitcoin
I think many, including myself, called the correction on XVG a bit early (shown as blue count on the graph). It appears though that XVG is following a nice ABCDE correction, but just on a longer scale (orange count on the graph). I think it is sometimes hard to separate news/events from your TA. I think that the rush to call the correction over was timed nicely with the official release of wraith protocol. I think this correction is setting up a bit better and is in line with other TA indicators like the MACD. In fact, I would like to see it drop a bit further (1100 satoshis) before making the move forward. Good Luck!
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