The Indicator at the very bottom we see a golden cross formed with this last pump to break 1k which was a good resistance break imo . It continues to follow the on the Indicator as well and is staying above the average in the middle of the indicator (the white dotted line in-between green and red) without breaking top of the Band this is a good indicator that it will continue its upward trend without after its mini correction.
So from I see we had a formed which I have marked the bottom of the flag itself. According to the flag measurements we should see the next stop at around 1165ish notice I say should.
XVG still has a big announcement coming up on the 16th from what I understand (unless this has changed without me noticing) and the coin should continue to rise. Remember take profits when comfortable and don't get greedy that's when you start to lose money.
This is not advice on whether to buy or sell just information based on indicators and opinion so trade at your own risk and best of luck!!
So lets get into the update as you can see we literally nailed the target to a T. I did not quite have the retrace correct timing wise. I do however still think we will show a retrace down to these levels (as shown in the yellow) hopefully creating YET ANOTHER bull flag. Obviously I will wait for the flag confirmation to buy in but I do feel that this has some time to grow yet for targets 2 and 3.
For the reasoning we have yet to see the indications of another flag or any kind of correction I'm not going to post a Target 2 for selling. I will instead post a target for correction based on the Fib Scale.
If retracement placement is correct and we continue creating Bull Flags we should see targets in the low to mid 1300's but I will post when that time comes. (side note with that being target 2 it puts target one right at .5 on the fib scale which would be a good healthy correction.
Hope everyone is enjoying this as much as I am and again this is not advice on whether to sell or buy just opinions based on indicators. Trade responsibly
So right into it. Ive switched out to the 1 Day chart to get a better look at the waves at a larger scale. Looks to me that NOW we are finally ready for that second correction... (xvg stop proving my retracements wrong)... I still think were prett close to that first prediction of 1010 on the correction but it may not quite dip that far.
As you can see in the 1 day chart I've shown the Fib Scale at the bottom of this latest pump and it is showing retracement around the 1080 - 1010ish range which would be history repeating for the previous flag. Obviously thats a pretty large range for a buy area but if there are signs of it leaving the Buy zone in an uptrend again then that is the time don't FOMO and buy on the way down thats a good way to lose your money.
IF (I say if in large caps because Ive clearly been wrong in the corrections previously) I would bet to say we will see 1075 putting us with a Target of 1620 if we find ourselves running into another Bull Flag situation.
That concludes this update I've babbled on enough I suppose. If you have any questions feel free to PM me or write in the comments Ill respond when I can and as always do your own research have fun and make money
-First Mark Zuckerberg announced that he was looking into cryptocurrency back in late December.
-Second the latest Facebook scandals that revolves around privacy (user should have a complete control over privacy features, choose what to share in public and what not)
-Third, Justin vendetta said that the company (potential partner) was looking into verge 6 months ago
-Justin vendetta and Mark (Facebook's CEO) had kind of the same start, in a room, and hardworking
-Verge uses also TOR which is a more familiar technology to the public, and current engineer that works in facebook. no need for new recruiters.
-Last Facebook has banned all cryptocurrency ads which explains why verge has to raise the funds for a global campaign (since it cannot happen in facebook).
this is purely a Fanatic Theory which is not intend to speculate the price, however it does seem a bit logical to me. After all the announcement is just few hours from now, we'll see !