calumon
Long

Verge (XVG) won't escape it's flag soon

BITTREX:XVGBTC   Verge / Bitcoin
Verge was one of the most interesting coins in the last weeks. Now that Bitcoin             moves sideways, it might be a great opportunity to see, how the chart of Verge will behave.

The problem with Verge right now is that it won't escape the flag it is in so easily. This means, that you should not expect any huge breakout for the next days. You might need to give it some time of consolidation since the resistance line is quite strong. As you can see from the chart, my guess is that Verge will go below the support line at 600 satoshi. But this will probably only happen after it hits the resistance line at approximated 920 Satoshi. What comes afterwards might be more interesting, though: There might be some good possibility of profit. This is something you don't want to miss out.

Looking at the possibilities, you could even buy it now since it will go up. Or, you can look out for better possibilities among other alts until the day comes since you probably will be able to buy at a lower price.

The indicators also signal some sideways movement. You must consider the fact that we are coming from an all time high.

Just keep this coin in your watchlist. It will also be a nice 2018 for it. Good luck.
thats a bearish flag
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Well you should also consider that this drop Was due to global market correction of 50% in 7 days from 835b to 432b so i would not consider any charts from now until market recovered.
+1 Reply
edward-kelly vitaminas
@vitaminas, agreed and Bitcoin will lead the way.
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