alanmasters

Verge Descending Triangle | Retrace Over?

BINANCE:XVGBTC   Verge / Bitcoin
Verge ( XVGBTC ) is forming a descending triangle , easily visible on the above chart... Is the retrace over?

Notice the bottom part of the triangle, we can see higher lows being hit... By looking at the upper side, we can lower highs...

Volume is decreasing overall but there is an increase in bullish volume ... Here is what happens next!


Verge ( XVGBTC ) Potential Paths & Scenarios

  • 1) If the support at 40 satoshis holds and EMA10 (42 satoshis) can be broken, we can expect XVGBTC to move higher and touch the green trendline . If this trendline is broken we go much higher.

  • 2) If by any chance the 40 satoshis support can't hold, 38 satoshis will be revisited or a new low. The new low is the less likely scenario right now.

All the details are shared on the chart.
We are bullish on Verge ( XVGBTC ).

Thanks a lot for reading.

Namaste.
Sep 27
Comment: The same analysis is valid, the chart remains the same.

There is really good bullish potential here if the upper trendline can be broken... That is what is going to happen next.
Oct 08
Comment: Trendline broken... Verge goes bullish!
Nov 15
Comment: 15-Nov. | TARGET:

(*) 0.00000049 |Hit 8-Oct. (+19%)
(1) 0.00000053 |Hit 14-Nov. (+29%)
(2) 0.00000058 |Hit 15-nov. (+41%)
(3) 0.00000063 |Hit 15-nov. (+54%)
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Related Ideas

@alanmasters , in your opinion, when do you think would be a good target to take profit?
Reply
alanmasters raynerleee
@raynerleee, Shared 6-Oct.

TARGET:

(1) 0.00000053
(2) 0.00000058
(3) 0.00000063
(4) 0.00000073
(5) 0.00000078
(6) 0.00000088
(7) 0.00000103
(8) 0.00000128
(10) 0.00000184
(11) 0.00000208
Reply
raynerleee alanmasters
@alanmasters, thank you kind sir.
Reply
this time it looks good, maybe breakout.
+1 Reply
@jadranko, Thanks for the support.
Reply
Can we have another update please? Is this setup still valid?
Reply
@karimovd, Sorry for the delay...

Reply
Update please
Reply
alanmasters Salama2016
@Salama2016, It remains the same, the chart.
Reply
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