I love the way VERGE is playing out. If the base of our triangle fails to hold at the 50MA we could retrace back to $0.07 (or .236 Fib).
Right now we are in the buy zone. I'd set up the bulk of your buy orders here, between .07 and .11. Then, have a few above and below (just in case).
Our longer term target will be around .76 cents! 800-900%+ profits. I'll take that.
Good luck my crypto trading friends!
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Triangle base did not hold but .236 Fib retracement seems to be solid. Keep lining up those buy orders. You may not have many more opportunities like this.
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Triangle base has been solid today. Holding nicely despite the alt bloodbath.
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Still in the buy zone here friends
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Triangle has become extended giving greater chance of buying at a discount. 76 cents target still remains. My time frame stated in the comments below still seems to be valid. However, because of the extended consolidation, there is a possibility that my 76 cents target could be exceeded. I have increased the long range target estimate to 76 cents - $1.04. Here is my zoomed in chart.
Hi, Stew, thanks for the great advice as always. I see you said you might sell some of your BTC holdings when it's reached the upper trend line($12600?), will you sell some of the XVGs too since it might affect the price of the XVGBTC if BTC goes one more lower low, say 6k level? I am a long time fans of XVG. Thanks very much man.
stewdamus
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@kesmoments, I will sell BTC but I am careful not to sell 100% of my positions. Reason: I can be wrong. I want to preserve some of my holding for margin of error. I don't like trading altcoins as they move even faster than their big brothers. I think I will just hold Verge until I reach my longer term targets.