This is a low risk trade if you use green support line for uptrend as your Safe SL.
NOTE - THIS IDEA WILL BE SUSPENDED IF GREEN LINE BREAK - SHOWN ON CHART ABOVE
This is just an early idea so do not trade 100% based off it, but keep it in mind.
Verge is a phenomenal coin with huge profit potential. It's one of the best anonymous currencies out there with smart contracts releasing later this year which should blow price over top if successful.
Invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
What do you think about this in the context of other coins that are following the same movements as XVG (i.e. at least 50% of them by my estimate)? Will they go up, too? I can't imagine this happening unless alts stop following BTC... the question is when will that happen, if we do start to decrease out dependency on BTC? I'm not trying to be pessimistic here, but I see a lot of moon calls but not a lot of reason to believe them since so many coins are following the same trend. Essentially you'd be calling "alt season" on >50% of coins if this is true. I'm a long-term XVG holder and really believe in the coin--trust me I want it to go up :)
Sync38
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@netrin, at the moment it depends on the coin, some top coins such as NANO/TRX are having/had main net releases and fundamental news which are allowing them to break these downtrend patterns, but i'd be extremely careful with the current state of Bitcoin~basically the old whale moves up pumping a coin based on great news, then dumping it due to no news for a while, I'm personally out of all alts under I see a perfect entry for the alts~ good luck, just my opinions
Mr-James2016
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Is it going to correct? I sold @ 820 and waiting for rebuying...
CryptoManiac101
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@Mr-James2016, It's ok if in good profit. If you listened, should be over 2X by now haha
Mr-James2016
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@CryptoManiac101, Pretty good profit ^^, but could be more if i just waited 1 hour... Im hoping for the correction to about 630, but its going and going up! Tnx btw, you rock!