XVG / USD TA
What happened to Verge? Will it ever rise again or did we call it quits on trading it?
From looking at this long term 5D TA we see that we are currently following a massive downward channel which actually produced a bear flag already and we are on the second wave down. Strictly looking at historical movement and this one pattern we are working with, it would be easy to conclude that this year Verge will not see revival of any significance as we still haven't even touched our liquidity zone.
If you're a bull, you're probably seeing that we are scraping the channel resistance and are anticipating a major breakout, which, YES, can happen according to prior chaotic movements we saw Verge do.
Conclusion...
If you're looking to enter, I'd caution you to use only around 5% of your total portfolio depending on how big it is. If you're looking at a high risk trade, this is also a good place to start with a small investment.
Regardless of the pattern, let's not forget that we did see nearly 4 Million percent profits in 2017.
If you've been holding and are wondering if it's time to sell, I'd say wait at this point, since we are at what's called a decision point which might take a month or two longer but might end up being worth it.
This is not a financial advice, nor am I your advisor. Invest only what you're willing to straight up loose.
What happened to Verge? Will it ever rise again or did we call it quits on trading it?
From looking at this long term 5D TA we see that we are currently following a massive downward channel which actually produced a bear flag already and we are on the second wave down. Strictly looking at historical movement and this one pattern we are working with, it would be easy to conclude that this year Verge will not see revival of any significance as we still haven't even touched our liquidity zone.
If you're a bull, you're probably seeing that we are scraping the channel resistance and are anticipating a major breakout, which, YES, can happen according to prior chaotic movements we saw Verge do.
Conclusion...
If you're looking to enter, I'd caution you to use only around 5% of your total portfolio depending on how big it is. If you're looking at a high risk trade, this is also a good place to start with a small investment.
Regardless of the pattern, let's not forget that we did see nearly 4 Million percent profits in 2017.
If you've been holding and are wondering if it's time to sell, I'd say wait at this point, since we are at what's called a decision point which might take a month or two longer but might end up being worth it.
This is not a financial advice, nor am I your advisor. Invest only what you're willing to straight up loose.
