XanderCrypto
Long

XVG Market Cycle

BINANCE:XVGBTC   Verge / Bitcoin
Market Cycle on XVG

Here we are looking at a market cycle that generally occurs on XVG.

1. Move upwards
2. Downtrend with series of pullbacks
3. Rounded bottom
4. Descending wedge break + EMA cross + Bullish Yume twist above Miaku

On a rejection at the EMA / trend line we will have to wait for bounce at the bottom of the support to watch for a retest and break.

The risk reward ratio on this trade is very good, in a best case scenario a 882 sell occurs.

The reason why we expect a smaller / less volatile market cycle is for a few reasons.
  • Bitcoin has less space to move upwards before hitting an overhead resistance / trendline (7.8k region)
  • The size of the market cycles are decreasing. We do not know if geometrically or arithmetically, but the best place is to assume arithmetically as the bitcoin fractal did this last time.
  • Volume is lower, therefore volatility is less and we will miss the crazy highs.

I have set 4 targets and also a stoploss at 305. The targets are to monitor the progress of the market cycle, with the last target being my personal final sell if we get that all important break.

TL;DR: Bog might pomp eet .

With this, we will get some fantastic day trading opportunities, especially at the top of the cycle- shown by those crazy wicks. You are all welcome to join my trading squad, the edge analysis group. You can reach us by messaging me privately on tradingview!

That's all for this analysis, thank you for reading and have a great day. Xander.

All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.


Comment: Update 1, Monday 2nd July, Zadar Croatia.

We have popped outside of the wedge, now I am waiting for a cross on the EMA with good volume. Predictive traders got rewarded in this instance.

Comment: The EMA break has occured. The pop should now begin.
Comment: EMA break was a fakeout.

Comment: Waiting for EMA break soon *snore*

Comments

VERGE

A truly decentralized project working with some of the most talented minds – Why do I say this

Has anyone heard of RSK smart contracts? (The world’s most secure smart contract) They are a very well respected and well-funded project working with some of the world’s best scientists and engineers. RSK recognized the talent of Justin Vendetta (Verge dev) reached out to Verge so they can work together – how is that for credibility?
RSK will be integrated into Verge and as a result Verge will reap all of the technological benefits including

- Being able to deploy or build any dApp onto Verge (meaning here we have a project that is not only a privacy coin but will basically be able to do what Eherium does as well) – If you do your research you will see that RSK smart contracts will definitely be giving Etherium a run for its money as they are developing quite the superior tech.
- RSK will launch Lumino. A combination of the best features of Lighting and Raiden network – Before end of the year RSK hope to launch this which will allow for 20,000 transacitons per second

- Verge will also be able to achieve decentralized cross chain trading via Saturn network (which will run off RSK - https://icobench.com/ico/saturn-protocol

Why will Verge succeed?

The single most important mission for any project that has a working product is MASS ADOPTION – Verge is always moving forward with the intention of mass adoption – Apart from getting on new exchanges how does a project reach those who are outside of the crypo community? Verge has the answer to that as they have partnered with Token Pay who have acquired 9.9% of a German bank with the option to make full purchase pending regulatory approval (which is very close) TokenPay CEO has been working tirelessly with regulators in order to make sure that Verge, Litecoin and TokenPay debit cards will be released – For any challenge that they have faced a clear solution has been found and implemented.

What else is yet to come?

- New codebase (not to be underestimated) as it is stated it will be rivalling bitcoin’s codebase
- 3 NDA’s yet to be announced
- Revised Blackpaper (with additional 10-15 pages)
- Ring CT integration
- Official iOS wallet + updates
- I2P Android wallet
- Mining update
- New Vendors
- New exchanges
- Merchandise store

Reply
Do not write complex graphics more clearly. target
Reply
@AliAtes, Sorry sir. Targets are the white horizontal lines :)
Reply
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