This is an update of the Chart and commentary on Verge I posted yesterday. For more detail of the projections I made yesterday, please refer to yesterdays chart linked below.
Verge XVG Trade Setup
Verge is approaching the buy zone I outlined. Selling volume is letting up a bit. The RSI is approaching the oversold region. Stoch RSI indicates in the oversold region. Remember that these indicators can ride in the oversold region for some time so be patient. It is likely it will take 3 or 4 four hour candles to get into the buy zone where you could start to buy in with increments. I would aim to be all on my planned investment for Verge XVG for this swing trade by the time we reach the ideal buy point.
The ideal buy point in this chart is $0.0487 this is the intersection of a trend line and support lines.
We may or may not reach it, if volume turns positive and the trend starts upward it may be our signal that the downward move has ended for now.
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All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor.
Wishing you success,
Isaac
Comment:
Verge has entered the buy zone I projected on the previous post of this chart. I'm beginning to add to the position, with a larger portion of the funds dedicated for this trade still reserved for my target buy zone of $0.0487
