I had to redo my EW attempt because my original one failed 2 of the 3 Cardinal Rules of EW Theory:
Rule Number #1: Wave 3 can NEVER be the shortest impulse wave
Rule Number #2: Wave 2 can NEVER go beyond the start of Wave 1
Rule Number #3: Wave 4 can NEVER cross in the same price area as Wave 1
I would like to hear your thoughts, comments, suggestions, etc.. and...
The price action is completing the shark pattern and soon it will be entered in PRZ area after completed the C to D leg.
The RSI on week chart is already oversold.
Volume profile showing no interest of traders at this area.
Soon the price line will take bullish divergence from potential reversal zone to hit the sell targets inha Allah.
The targets are:
Shorting from 17K to 3K was a lot of fun but its time to get some bullish bias! The majority of alts are showing breaks of its resistances, retesting it and using it now as supports. ALTSZN on its way? I do think that the majority of alts have found their bottom but the question is if 3300 is BTC's bottom. We still haven't seen a real capitulation event imo and...
- As the weekly moving averages are getting closer and closer, it looks highly possible that XVGUSD can touch the main trend line once again when the next bull cycle starts.
Fundamentals looking very strong:
- Verge FCAS (Fundamental Crypto Asset Score) is A (789)
- It is one of the 58 coins chosen by Ice Markets (mother company of BAKKT) to be included in...
What I can currently see from this chart?
1) 4 higher lows, which means a heavy and big accumulation is still going on;
2) a clear and drastic resistance at 0.11/0.12 USD already tester for at least 3 times;
3) the conjunction between the major support (1) and major resistance (2) will take place at least at the end of 2019.
I'm currently making some serious...
Verge / USD Short-term price analysis
Verge has a bearish short-term trading bias, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that the head and shoulders pattern has now reached its full downside projection. Now that the downside target has been achieved, the XVG / USD pair...