ninjacookies
Long

XVG Verge Historical Double Bottom Massive Bounce or Doom?

BINANCE:XVGBTC   Verge / Bitcoin
Verge's luster has kind of worn off over the past few months (to say the least). But that does not mean it doesn't have the capability to make us money.

It's currently right around its historic 1.5 year low of 53 satoshis, going back to December of 2017.

On the weekly, its RSI is in the oversold levels hovering around 29.3.

Lower time frames show potential bullish reversal signals (constricting ema's, long sideways movement).

If you're feeling froggy, entry can be made between 53 and 60 satoshis.

Stop loss at 46 satoshis.

This could have some massive short term potential...if interest sparks.

Good luck and happy trading!
Comment:

On the daily chart, we can see a bullish divergence has formed, as well as price action beginning to break out of a descending triangle.

TTM squeeze giving the initial indicators of a potential move.

Keep a close eye on this in the coming days.
Why no in between.?! Does it have to Be doom or gloom ?
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@Ar84ltc, Fair question! Being that it's a historical bottom spanning this long....there's really no support beneath it...meaning if it doesn't hold it's going to get very, VERY ugly. I'm expecting a fairly strong reversal based off the information presented, but of course that's just my own arbitrary guess/opinion.
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