This is my bullish, but unlikely perspective for Verge. I have been trying to figure out how to count these waves without violating Elliot Wave Principles.
This leads me to believe that it is possible that Wave 1 of a sub-wave is this leading first wave diagonal and we are almost done with the correction.
I will keep everyone updated with my ideas....
3 hour chart. Verge is at a critical point. On the RSI and candlesticks, we see a descending wedge. Will we break up or down from this point?
Trade with caution. I would say this is a no trade zone until we see confirmation to the up or down side.
Typically descending wedges break upwards, but we shall see.
Looks like Verge is on wave 4 according to Elliot Wave Principles. I am long on Verge. Looks like Wave 3 just hit a 1:1 target. I expect Wave 5 to be massive and possibly hitting 1200satoshis because Wave 3 only hit a 1:1 ratio.
Buy-In : 770-800 satoshis
Stop Loss: 750 satoshis
Target 1: 1000 satoshis
Target 2: 1200 satoshis