XVG VERGE - Feb 2 Technical Analysis - Bullish Long Term Up to 680% Gains

in #verge7 years ago (edited)

WEDGE HOLDS - SUPPORT TREND LINE ESTABLISHED
Long Term Bias (6+ months) - Bullish
Medium Term Bias (4-14 Days) - Neutral to Bearish
Short Term Bias (2-3) - Neutral to Bearish
Long Term Target Prediction By 2019 - $0.30 / 0.00003500 Satoshi, Up to 600%

Firstly to correlate similarities to OmiseGo, we can see OMG form the same type of pattern, where it broke out to fairly exact 1:1 extension target 1, and 1:161.8 extension target 2.

We also see similarities in other coins like IOTA.

Here is IOTA during its wave 2 consolidation under $0.40 range before the massive breakout.

Then we know the rest with IOTA after breaking out.

We ask ourselves, can another chart that looks similar do the same?

Since BTC corrected to the $7,900 yesterday, we saw XVG form a bottom right along the trend line support, which now forms a beautiful falling wedge pattern.

Using a fib extension target of 1:1.618, there is a potential 600% play long term.

Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

Tutorial Series

Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Tutorial Part 15 Automatic Stop Sell/Buy Executions
Lesson 16 - Tutorial Part 16 - Advanced 55 EMA Strategy with Time Frames and MACD Part 2

Twitter - https://twitter.com/PhilakoneCrypto
Youtube - https://www.youtube.com/user/philakone1

If I've helped you, consider buying Luna and myself a beer

BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.

DISCLAIMER:

Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.

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Really well thought out and well presented analysis. Followed and upvoted. I would like to request an analysis of bitshares BTS please.

Could you do another VEN update? It looks like it followed your predictions spot on! I followed your predictions and got a 11% increase in my holding

you are an amazing person philakone! I'm learning a whole ton.

Btw, do you intend on sharing how you track your trades in excel? I have trouble keeping the books straight.

Great Job on your TA. Hugs and kisses for Luna 🐶

done. she barely noticed :) sleeping beauty at the moment

Phil, if you can please help me understand something. In terms of btc, if xvg takes a long time before it grows,doesnt one lose? in other words...assuming btc increases....and xvg takes for ages to develop,in reality isnt that a loss? darn..lol i m not sure if I am even saying it right.

Thank you honestly for being so open with your picks and analyses. It's extremely refreshing to be able to trust that someone doesn't have any vested interested in promoting their videos to sell memberships or services.

Thanks for the analysis - will be watching it closely.

As a bag holder, I am beyond ecstatic to finally hear someone reputable speak something GOOD of XVG. Cheers for the TA, man. Keep up the great work!

HODL and buy on this drop.

Thank you for the great post.

Thanks for having my back <3