Vertcoin - Reversing Course: The Weekly Shows the Way

Against my better judgement I had assumed the current price action was following the price action starting in March 2017 due to the similarity in patterns even though I saw the January 2016 pattern as well. I was looking at the daily chart which showed a much more volatile pump in 2016 than the one we have now and moved on to the more proportionate and similar 2017 pattern. Now that I look at the weekly chart, the similarities between 2016 and 2019 are much more apparent. We have identical MACD patterns showing support and resistance at the same levels. Even the candlestick patterns look more similar. I kick myself for not seeing it sooner, but it may be a blessing to find it sooner rather than later because we could see the price fall back down to the 2018 lows. This would be a great time to scoop up some more VTC.

If you are in VTC and are wondering what to do, I think we will have a little relief rally and perhaps even a mini pump once Bitcoin starts to correct. But for me, in light of this weekly chart, I will use this relief rally as an exit point and will wait for another good opportunity to get back in.

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I think we have the start of the relief rally. I've set some target prices where the price may find some resistance, which could be good exit points. We have a nice bull flag sitting on support with wave 3 about to take flight.

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Looking good here!