VERGE (XVG): Pattern Morphing Wedge to Bull Flag

in #verge7 years ago

SUMMARY

Pattern morphing is surprisingly more common in Cryptos than in Equities. As shown below, prior updates had shown a potential for a wedge like formation of the recent price action bars. Given that current minor retrace is happening after a breakout, the wedge pattern had been selected as the primary short term count.

However, the pattern morphing only requires small changes in the heights of subsequent price bars to raise and straighten the upper trend line as can be seen in below chart. Note how the bullish flag can be drawn out and since wave E is not yet complete; its projected destination could coincide with the first line of support (first horizontal blue line). IF the flag is to be wave 2 of a higher degree, it can't equal the level of the lowest level horizontal blue line as then it would invalidate the wave 1 to 2 rule.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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it would be faster ...

I contribute data

Captura de pantalla 2018-02-25 a las 10.56.47 p.m..png

XVG against bitcoin is also finishing to form a triangle and confirms the analysis.

I see new Highs in Verge by end of March.

@healthiswealth, I am hoping we see at least 15c again in March. I sold a few the peak at new year, but not as much as I should have. Hopefully, it will run hard again soon. Cheers

HODL; I see Verge over a $1 by end of June and $4 by year end.
Cheers!

I like the projectt although it had some problems with with the delivering of wraith :) in holding :)

What is your favorite privacy coin and why ?

XSPEC, OBFS4 makes it much more usable in developing/highly surveilled countries in order to retain true privacy.

but EOS?

FACT: Dolphins recognize and admire themselves in mirrors.

I Like PIZZA!!! Your REWARD POOL RAPE Will NOT Be TOLERATED!!! #FlagTheDonkey #FlagAWhale

Before you were very bullish to #XVG @haejin.
Why now ZEC ?

Hi @haejin,

It seems you got a $26.2853 upvote from @done at the last minute before the payout. (12.82h) and this comment is to make everyone aware.

Please follow @abusereports for additional reports of potential reward pool abuse. Thank you.

Hi @haejin,

It seems you got a $7.7594 upvote from @btu at the last minute before the payout. (13.0h) and this comment is to make everyone aware.

Please follow @abusereports for additional reports of potential reward pool abuse. Thank you.

Hi @haejin,

It seems you got a $7.5365 upvote from @bcc at the last minute before the payout. (13.0h) and this comment is to make everyone aware.

Please follow @abusereports for additional reports of potential reward pool abuse. Thank you.

Verge is a great coin in the near future just HODLing it

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Nice posts!👍