75% of most symmetrical triangles are signs of an uptrend, Unfortunately 25% of cases incur a breakdown. I've learnt my lesson in trying to predict the nature of a symmetrical triangle that is so heavily reliant on Bitcoins Influence!
All corrections in general are extremely hard to predict given the many different types of possible correction pathways it will take! When dealing with these alt-coins I see that we must take into consideration the health of the "King Coin".
In my Analysis I have shown two possible likely scenarios with XVG, I'm not here to spread FUD about this coin. Personally I don't check the news in deciding on investments either, although I do read them after I have sold my winnings to see what news came AFTER the price has moved. (I think I described how most people check on their EXes..)
Keep your confidence in the overall markets, Bitcoins correction is completely healthy and if we do see lows of 8k then expect some CRAZY numbers at the end of 2018! In my OPINION, this year will make a lot of Millionaires and the players armed with knowledge of Technical Analysis will be the players on top of the leaderboard!
As always please hit me with some constructive criticism as it's what I'm mainly looking for here!
Good luck Everyone!
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ABC up for the B target, then a possible crash!!!!
Guys keep this count in your awareness, this is highly probably for price movement!
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Hey guys, I can see Bitcoins correction nearing the end, (still some ways to go) sorry for being absent, but I'm not very good at playing the bear market, and have been studying up in it. Made some amazing gains so far and will be ready to play XVG as soon as we enter a solid uptrend for Bitcoin !
As for verge, we will likely hit 400 - 480 satoshi and I will be damn sure to ladder in during the last phase of this market wide correction!
Yes, we might be in for a long ride on the dip with XVG. It could be rather chaotic, so its hard to tell when it will rebound.
Sync38
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@edward-kelly, If you have seen these "hidden buy walls" on exchanges like bitfinex, yes we might be looking at very long corrections for both Bitcoin and XVG with the mega whales accumulating their Bitcoin.
Check @philakone 's youtube to see the amazing shit going on and I don't think we will see an uptrend on Verge until Bitcoin starts to move up~
edward-kelly
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@Synco, last time I looked on Binance I saw the massive sell walls on XVG all the way up to 2200. The pump and dump kiddies had their fun over Christmas and New Years, now the professionals are moving in to clean up after youth gangs have gone back to school.
Thanks for the link/tip, I'll check it out. Yes, if Bitcoin sneezes, the whole Crypto market catches a cold.