I have no idea how far Verge could go, the Bitcoin bull needs to remain in-tact at least. If it does remain in-tact, then using previous impulses and corrections could give some indication of where price could go. This isn't a prediction in price, rather an idea to shed some light on its potential using previous cycle times.
- Impulse 1
- Correction of impulse 1 took 3 times longer to form.
- Impulse 2 was 2.382 times the length of impulse 1.
- Correction 2 took 3 times longer to form than impulse 2, the same length as the prior cycle.
- If using the same time data, impulse 3 would be 2.382 times the length of the previous.
- This could mean end of cycle in December 2021
- The target, simple, top right corner of the box $1.16
Note: This is not a prediction of price, simply an observation of historical price and time. This should not be considered as a reason to buy Verge.
- Impulse 1
- Correction of impulse 1 took 3 times longer to form.
- Impulse 2 was 2.382 times the length of impulse 1.
- Correction 2 took 3 times longer to form than impulse 2, the same length as the prior cycle.
- If using the same time data, impulse 3 would be 2.382 times the length of the previous.
- This could mean end of cycle in December 2021
- The target, simple, top right corner of the box $1.16
Note: This is not a prediction of price, simply an observation of historical price and time. This should not be considered as a reason to buy Verge.
Comment:
Scenario did not play out, too easy I suppose. Remaining bullish on Verge for the foreseeable future. Will be interesting to see what the time extension will be on the next top. Good luck out there!