Log charts shows you sometimes details that with linear one are not apparent.
This idea is quite simple.
The natural growth of Verge is inside this channel. End of 2017 Verge got crazy, found support just one time on the top of the channel and then fell again inside. It crashed against the top of the channel one month later confirming the bearish momentum.
Actually verge is evolving inside a triangle.
In my opinion it will find the strenght to touch again the upper line of this triangle in the next weeks.
Frome there the last correction before the big pump.
September 2018.
There verge will find three important supports that will strongly reject verge bearish intentions.
The first is the basis of the triangle, which is also inside the demand zone.
It will also find the basis of the channel and last but not least the strong dotted resistance line who rejected 3 times verge before to open the doors to the big pump of end 2017. This Resistance will be transformed in support and it will be very reactive.
From there another bullish cycle will beginn. There are a lot of take profit inbetween, but if Verge is on the verge, it will reach the top of the channel again 1 dollar for 1 Verge
Ultra bullish
BIO
This idea is quite simple.
The natural growth of Verge is inside this channel. End of 2017 Verge got crazy, found support just one time on the top of the channel and then fell again inside. It crashed against the top of the channel one month later confirming the bearish momentum.
Actually verge is evolving inside a triangle.
In my opinion it will find the strenght to touch again the upper line of this triangle in the next weeks.
Frome there the last correction before the big pump.
September 2018.
There verge will find three important supports that will strongly reject verge bearish intentions.
The first is the basis of the triangle, which is also inside the demand zone.
It will also find the basis of the channel and last but not least the strong dotted resistance line who rejected 3 times verge before to open the doors to the big pump of end 2017. This Resistance will be transformed in support and it will be very reactive.
From there another bullish cycle will beginn. There are a lot of take profit inbetween, but if Verge is on the verge, it will reach the top of the channel again 1 dollar for 1 Verge
Ultra bullish
BIO
Comment:
Ready to go till 179
Ready to go till 179
Comment:
the trendline is this one. Support on the breakout level
the trendline is this one. Support on the breakout level
Verge as other altcoins corrected more than bitcoin. This divergence between bitcoin and altcoin is an extremely interesting move, because it could signals that trade of the btc pairs is increasing, what would confirm a return of the bulls.
Rsi and macd in the daily timeframe is going in the hot zone and the last weeks formed a contracting triangle. I m still positive for the short term