Verge (XVG) Potential Outcome

BITTREX:XVGBTC   Verge / Bitcoin
Some things I've noticed on the 4HR chart:

- Look at that bullish cross between the blue convergence line and the red baseline! It's been over a month since we've had a bullish cross happen.

- Could that be an inverse head & shoulders pattern forming? Notice the small bounce off of that horizontal support line (thin blue line) I've drawn out. If price continues up, then breaks through the resistance line (thick black line), we might see some more bullish movement.

- RSI is showing higher highs and higher lows which could mean this baby is starting to trend upward. Will it break through the 50% diagonal resistance line and continue towards the 70% level?

- Kumo cloud is within reach. If price action starts trending up, we may see a breakthrough that kumo cloud. If so, we may see price test the top of that cloud.

- On March 20th, price action broke upward through the baseline (red line) for the first time since mid-february. It retraced below the baseline for a brief moment and looks to be bouncing off of it. Let's see if this baby can go any higher.

- If you dial out to a few months, you'll be able to see that XVG has broken out of the descending wedge pattern with some sideways movement. What's next?

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Mar 22
Comment: Are we about to see a Kumo twist or what? If that cloud goes green, that's generally a bullish sign. Reference:
i AM ALSO UBER BULLSIH ON VERGE , I think I have spotted a breakout what do you think ?
tculia Sir_DURZO
@Sir_DURZO, On the 1HR chart?
@tculia, on the 4 hour chart,

The greater picture ,
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tculia Sir_DURZO
@Sir_DURZO, It definitely did break out of the bigger descending wedge, finally... This may be the reversal we've all been waiting for! :D
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@tculia, I really hope so ,
May the heavy clouds of profits rain upon us.
Xvg is really some some nice action
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keep us updated
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tculia Indiobear

4HR Chart:

+1 Reply
tculia tculia
4HR Chart:

- Potential kumo twist forming which is a bullish sign (red cloud turning into to green cloud).

- Price is trading within Kumo cloud which indicates loss of trend, or point of uncertainty. I believe the sudden price movement was sparked by the potential partnership they are about to acquire - - Keep an eye out on this news.

- Overbought levels on the RSI

1HR Chart:

- Also showing overbought levels on RSI

- Potential bull flag forming. Price has yet to retrace back to the 50% mark of the recent parabolic movement. We may see some more savage movement upward.

- Trading above kumo cloud meaning we are still in bullish territory.

- blue convergence line & red baseline are tracing within each other. I expect them to correct back to normal levels so we may see a sudden pop in price soon.
tculia tculia
and/or possible descending wedge forming on the 1HR chart. Let's see what happens in the next few hours.
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