Coder775

Verge USD | I was wrong, and here we go with a new analyze !

BITTREX:XVGUSD   Verge / US Dollar (calculated by TradingView)
Hi Everyone.

If you were checking my last analyze, I called it wrong, because I didn't check how BTC is performing.

So There is a new one, you have a lot of information already on charts (my notes).
So what this information are telling us?
1. We have retrace to 0.927 FIB, but we just entered it and pull back to 0.886 FIB.
2. We have a downtrend bearish line - as you can see, we didn't even once try to break it.
3. MA50 as shown on the pic below is following our downtrend line ! - Green Color !
4. We are currently below MA200. as shown on the pictures .
5. We are below KINJUN line in ichimoku and below bearish cloud !. As you can see on TOP put number 104, why is that? Because ichimoku numbers are: 9,17,26,52,104 so there we go 104 !
6. As pointed with Yellow circle, Tenkan Sen (Red line) have crossed Kijun Sen (blue) line, when that happens, and we gonna close below them, this is strong bearish signal.
7. If someone was checking my BTC chart, you can see that I pointed 0.927 FIB as bottom in BTC , why this is no applying to Verge? Because they are different coins, and they follow their own patterns. If you haven't seen my BTC chart, forget about this.
8. Looking at 4H charts, we can see that we tried to enter the cloud, but we failed, 0.886 FIB was to strong to cross.

The last thing to mention are my targets, you have 2 targets, which one to choose? Depend if you are looking for short or long term. We will get to the 2nd target, it's just a matter of time. the 1st target we should see soon.
Take a note that,we may pullback to 0.886 FIB if BTC will go up. (if you want to know why BTC may go up, check my other chart with BTC ).

I think that's all from me, analyze and let me know what you think about that.

If you liked my analyze, press LIKE!

This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Comment: Yes We do have a confirmation !!!
As you can see on the picture below, we have tried our downtrend line and we failed, the same situation happened when we were at 0.093 !! If you can't see similarities you are blind.
By measuring the wave's size i managed to put 2 targets.
I also copied previous pattern from 0.093 pump and added to our and see what it's showing us. it's going straight to my target 1 !!
Comment: Hi everyone, I will update this chart, as to me it's still valid.
Everyone is talking about break downtrend on Verge, but did we really break it? let's me show you that =)
As shown below on the picture, we touched it and in seconds fall down !!

On top of that i will give you XVG BTC Picutre of downtrend which wasn't even crossed, on top of that on 1H chart MACD have crossed downwards !! I'm staying bearish on that.
Comment: Looking at 1W charts we can clearly see that we didn't get thru down trend line
+ MACD showing us strong downtrend, it's just pumped by the news and it won't make it.
We get some volume Yestarday but Todays volume is less than 1/2 what was yestarday.
Do You have something what would change all those facts? I don't think so ! Charts, volume, BTC falling talks itself.
Target 1 almost reached. not really in time, but it's reached.
Waiting for retrace lower or alternatively break of 0.3 to reinsert our long positions.
Reply
Soooooooooooooooooooooooooo........... what did i tell ya??
;)
Reply
Coder775 chriseth
@chriseth, pump and dump? that's how this look to me.
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chriseth Coder775
@Coder775, do you finally believe me????
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chriseth chriseth
still same thinking? ;)
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chriseth Coder775
@Coder775, still???? ;)
Reply
Coder775 chriseth
@chriseth, they supposed to give a news on 26 and there was a dump. they changed they mind and move that date until 16 of April, lets wait for that date. If there wasn't this news you would see that my targets were correct and this is just driven by the news, and lets see what's the news will bring us. I won't buy this coin until confirmation. Same bubble as it was before christmas with wirth protocol?
Reply
it's going to break the green trendline
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Coder775 chriseth
@chriseth, no it won't
Tomorrow we may go up to 0.045 but than we will fall down.
The time will tell us =)
Reply
chriseth Coder775
@Coder775, We'll see!! The time is there to finally break out !!
Reply
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