JVallah
Long

POSSIBLE VERGE FORMATION

BITTREX:XVGBTC   Verge / Bitcoin
Falling wedge pattern! it indicates a possible bullish run to its most recent ALT(2000) satoshis. The fact that bitcoin might go on a temporary bull run to $15000, before continuing its bear trend, would support this falling wedge fulfilling itself, but only to its ALT, because the bear market will not support further movement, and indicators say it would probably retrace from there. but, it would sail, with bitcoin as its captain, back to 457 satoshis, its next fibonacci retracement target, (it broke its 6.18 line previously so that means it should go to its next level 7.18 most likely, which would also correspond with a bounce of its 50 week Exponential Moving Average .( HUGE reversal sign) From there we could see a big rally to 2700 satoshis and beyond. This is just a possible outcome, my own opinion, comments are appreciated. If this pattern doesn't fulfill, then most likely we sail to 457, but don't worry, as long as you don't jump ship you won't drown. Unfortunately there are no life vests in the sea of cryptocurrency.
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