roaken

VERGE - Finishing this FIB wedge with CRAWL

BITTREX:XVGBTC   Verge / Bitcoin
With such strong support from previous dip, we're obviously in a FIB WEDGE here. The only issue is the spacebtween peaks is running longer then usual and the 3 peak came a little early. I'd expect XVG to crawl up its support line until it's wedge lines are complete, then we're back to the races with 3rd wave finding small resistance at previous high. Good dip to buy. I'm in.
Comment: Got some Korean Police raiding news right at yesterday right as XVG was finding its support, pushing it down further then I'd like. I didn't put the support line on the candels for this graph because I saw a majority of the candel action happening on the line I placed. Also, this means there's some wiggle room for this structure.
Comment: If we don't get a recovery spike in the next couple hours you can know that this structure has lost its momentum
Comment:
snapshot
Are the targets still the same as before? If not what are the targets now?
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@ts61fa, sorry i'm not a target charter, I show structures and direction. (more accurately than most target charters I might add). I'm hoping to add numbers to my TA as I'm studying this level of charts atm but am not 100% on it to share atm. I don't want to share anything I'm not personally certain on.
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Checked out a few of your analysis's and do like them, painfull to see that xvg did not make this jump..
What do you think of the current scenario, given we can now check 3 more days of data?
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roaken PRO Frederickvc
@Frederickvc, honestly confused. This dip doesn't build to anything new or support anything previously.
Going to continue to HODL on this. Check out my EOS chart for similar pattern that got messed up from FUD and found it's way back.
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thanks
graet analysis
thumbs up
+1 Reply
This is a great visual of a Fibonacci wedge. Thanks.
+1 Reply
I am planning to sell off my core position at (1), and then buy back in at (2)
+2 Reply
muloka sigmasix
@sigmasix, will likely do something similar
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SelimUnver sigmasix
@sigmasix, Why would you do that? there is almost no price difference between 1 and 2?
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sigmasix SelimUnver
@SelimUnver, If there were more than a 5% difference in position I would. With significant volume, it makes a difference.
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