Wow. Holy cow. Guys, this may be my longest post of the day. SO MANY things to say here.
First off, we all know how much of a pain in the ass Verge is. But MAN will it be worth it. Many people have lost money on this coin, but guys I'm pretty confident that it will come back. It's just a matter of time.
So what I did here was just take the log perspective of Verge's wave count through the weekly chart. And I am AMAZED. This is truly nuts. If we look here, this is a pretty easy wave count. We see that Verge is actually "channeling" logarithmically and following these trend lines pretty nicely. We're reaching certain levels in on RSI where we have an immense amount of support. And even though we could potentially correct for a few more weeks, what we have in store is going to be crazy.
So we see our support levels and zones on RSI, but notice the bullishness in weekly volume. Such a beautiful downtrend. But with the decrease in volume, it shows that there is really no fundamental catalyst continuing to drive down the price. It's simply just taking a break!
So, I believe we are still on wave 3 here for Verge. And the green lines are our targets. The crazy part is how the top of the trend line would take us near the $1.22 target that a placed on the last Verge post, from doing some crazy Lumen slope extrapolation thing (I may copy it onto this post just so you all see what I'm talking about).
Lets also take a look at the 21 Weekly EMA. All we're doing is bouncing off of that, like we have in the past! This reminds me SO MUCH of Cardano and Lumen guys i tell you!! Do NOT be surprised if Verge gets over $1. I think what we may see here is a target of $1.18 and then a pretty drastic drop to either the target 1 or target 2 line. From there we could possibly correct for months until we reach this support line. Is $3 possible for Verge? Maybe in 2019!
Even with the price being so low, I'm really excited. Everything that I've seen being possible with this coin is STILL possible. Only the more that I look at these charts and study them differently, the more confirmation that I get. A few more updates to come with what is going on in the short-term. I think our correction is nearly done!
Reminder, this is a weekly chart. These targets most certainly won't happen over night.
First off, we all know how much of a pain in the ass Verge is. But MAN will it be worth it. Many people have lost money on this coin, but guys I'm pretty confident that it will come back. It's just a matter of time.
So what I did here was just take the log perspective of Verge's wave count through the weekly chart. And I am AMAZED. This is truly nuts. If we look here, this is a pretty easy wave count. We see that Verge is actually "channeling" logarithmically and following these trend lines pretty nicely. We're reaching certain levels in on RSI where we have an immense amount of support. And even though we could potentially correct for a few more weeks, what we have in store is going to be crazy.
So we see our support levels and zones on RSI, but notice the bullishness in weekly volume. Such a beautiful downtrend. But with the decrease in volume, it shows that there is really no fundamental catalyst continuing to drive down the price. It's simply just taking a break!
So, I believe we are still on wave 3 here for Verge. And the green lines are our targets. The crazy part is how the top of the trend line would take us near the $1.22 target that a placed on the last Verge post, from doing some crazy Lumen slope extrapolation thing (I may copy it onto this post just so you all see what I'm talking about).
Lets also take a look at the 21 Weekly EMA. All we're doing is bouncing off of that, like we have in the past! This reminds me SO MUCH of Cardano and Lumen guys i tell you!! Do NOT be surprised if Verge gets over $1. I think what we may see here is a target of $1.18 and then a pretty drastic drop to either the target 1 or target 2 line. From there we could possibly correct for months until we reach this support line. Is $3 possible for Verge? Maybe in 2019!
Even with the price being so low, I'm really excited. Everything that I've seen being possible with this coin is STILL possible. Only the more that I look at these charts and study them differently, the more confirmation that I get. A few more updates to come with what is going on in the short-term. I think our correction is nearly done!
Reminder, this is a weekly chart. These targets most certainly won't happen over night.
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This one makes much more sense to me, in the terms that we continue to correct through the end of February, and it would match up with our Daily Stoch RSI movements. If we assume alternation between the two corrections of consolidation waves 2 and 4, then we could assume a shorter WXY correction for wave 4, instead of a longer WXYXZ correction like wave 2.
Now, let's see what's going on in the shorter term!
This one makes much more sense to me, in the terms that we continue to correct through the end of February, and it would match up with our Daily Stoch RSI movements. If we assume alternation between the two corrections of consolidation waves 2 and 4, then we could assume a shorter WXY correction for wave 4, instead of a longer WXYXZ correction like wave 2.
Now, let's see what's going on in the shorter term!
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This is likely what we are to see in the short-term! I'm looking for entry at 8 cents.
I'd like to target the 14 cent range for a possible 80% gain, and maybe even the 18 cent range for as much as 120%! I think this is the likely scenario for a continuation of this correction. Even after we possibly hit these targets, it should be likely for us to correct downwards into a Y position after the market stores more bullishness on this coin.
Very big things to come (through TIME). I've been called crazy with Lumen and Cardano. I'm willing to make a trio with this one, haha!
This is likely what we are to see in the short-term! I'm looking for entry at 8 cents.
I'd like to target the 14 cent range for a possible 80% gain, and maybe even the 18 cent range for as much as 120%! I think this is the likely scenario for a continuation of this correction. Even after we possibly hit these targets, it should be likely for us to correct downwards into a Y position after the market stores more bullishness on this coin.
Very big things to come (through TIME). I've been called crazy with Lumen and Cardano. I'm willing to make a trio with this one, haha!
Bình luận:
Short-term target and support zone (Next 2-5 days)
We've found support along this support line. If Verge falls in this support zone or even below it's an instant buy from me. Short-term target is 8.7 cents at the top of this small channelling resistance line.
Short-term target and support zone (Next 2-5 days)
We've found support along this support line. If Verge falls in this support zone or even below it's an instant buy from me. Short-term target is 8.7 cents at the top of this small channelling resistance line.
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Verge just dipped into our critical support zone! Like i said, this is a valuable buy from me! I like the chart similarities between this and Bitcoin. So let's be conservative here and target top line resistance for a nice 30% gain with a 3-1 RR. OR, this is nice entry for just long-term holders (EVEN THOUGH IT CAN STILL GO DOWN MORE).
Verge just dipped into our critical support zone! Like i said, this is a valuable buy from me! I like the chart similarities between this and Bitcoin. So let's be conservative here and target top line resistance for a nice 30% gain with a 3-1 RR. OR, this is nice entry for just long-term holders (EVEN THOUGH IT CAN STILL GO DOWN MORE).
Bình luận:
You guys see what happened as SOON as it dropped from this critical support zone? Instant 36% gain. Wow.
You guys see what happened as SOON as it dropped from this critical support zone? Instant 36% gain. Wow.
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Verge can get as low as 3 cents! This 6 cent top may be as high as we go for the next few days.
Verge can get as low as 3 cents! This 6 cent top may be as high as we go for the next few days.
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Another resistance level. Possible 7.7 cent target.
Another resistance level. Possible 7.7 cent target.
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Guys, congrats if you got the buy order of Verge at 3.6 cents. It was a near perfect hit. It looks like these are impulse waves, following the lead of Bitcoin. Here are my 3 targets for each wave, with a possible 94% gain from the next entry level (yellow line). Buying around the yellow line would be a good entry level. BUT, keep in mind that we are still on the defense, Bulls have momentary control, but we can't give up on this total correction just yet.
Guys, congrats if you got the buy order of Verge at 3.6 cents. It was a near perfect hit. It looks like these are impulse waves, following the lead of Bitcoin. Here are my 3 targets for each wave, with a possible 94% gain from the next entry level (yellow line). Buying around the yellow line would be a good entry level. BUT, keep in mind that we are still on the defense, Bulls have momentary control, but we can't give up on this total correction just yet.
Bình luận:
Just making sure you guys have realized Verge is likely to hit 3.6 cents again based off of the Bitcoin TA...
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Expect some more retrace before kicking up to around a 12 cent target.
Expect some more retrace before kicking up to around a 12 cent target.
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So based off of Bitcoin's TA, we can drop lower than where wave 4 corrects. I've noticed a ton of coins who's chart completely mimic Bitcoin's, and Verge is one of them. This is something that indicates manipulated price action within the market, and is not a cause of true value pairing. Which means, I think it is possible that we see sub $7k again on Bitcoin. The market is acting pretty faulty in terms of actual wave counts. So be weary on long positions with altcoins until we are completely sure Bitcoin is done correcting.
Bình luận:
Guys, All signs are looking pretty good for Verge. But if we break the 3 cent threshold, then I'll begin to have a bearish view. But I definitely see the market rebounding soon.
If you press play on the original post, you see that we're actually on the logarithmic support right now. I'd expect a bounce VERY soon. And if we don't get it, then I'll become pretty bearish on this coin in the short term.
Irregardless, I'm still pretty bullish on Verge. I think it'll have an excellent year, as long as the market is health. And I'm just buying and buying and buying more of the stuff as we go along. A very nice project here.
Another thing to note that I think everyone should be aware of is Beta. Get familiar with this concept. Beta is simply the responsiveness of an equity to the overall movement of the market. So if the Beta is greater than 1, then it responds more heavily to market movements. For example: Let's say Netflix has a Beta of 3 in relation to the NASDAQ. If the NASDAQ falls 3%, then the Netflix stock is likely to fall 3 times that at 9%. If the NASDAQ goes up 2%, then how high is the Netflix stock likely to go up based on Beta? ...6%.
In the crypto-asset class, Beta's for altcoins tend to be higher, which makes them more risky. SO, what would we compare altcoins to to find Beta? Well, that would be to Bitcoin. Because Bitcoin tends to control the market. So what we could say for Verge is that it has a high Beta (Just making this up, but 3 could be the Beta for Verge). If Bitcoin falls 5%, then Verge would fall 15%. This makes it more risky to own Verge on big market downtrends. BUT, if it you own it on uptrends, then you get more profit. If Bitcoin raises 5%, then Verge would grow by 15%. It's important to understand this concept, because when Bitcoin falls, you are NOT rewarded for holding a lower market cap altcoin. You are now at a disadvantage! Hopefully, when I get some time this summer I can make a post of calculated Betas for some of the top listed coins, so that you all can understand the market risks for these coins. The Betas can change over time as the coin develops. So remember that Beta is NOT constant for the full life of an equity!
Guys, All signs are looking pretty good for Verge. But if we break the 3 cent threshold, then I'll begin to have a bearish view. But I definitely see the market rebounding soon.
If you press play on the original post, you see that we're actually on the logarithmic support right now. I'd expect a bounce VERY soon. And if we don't get it, then I'll become pretty bearish on this coin in the short term.
Irregardless, I'm still pretty bullish on Verge. I think it'll have an excellent year, as long as the market is health. And I'm just buying and buying and buying more of the stuff as we go along. A very nice project here.
Another thing to note that I think everyone should be aware of is Beta. Get familiar with this concept. Beta is simply the responsiveness of an equity to the overall movement of the market. So if the Beta is greater than 1, then it responds more heavily to market movements. For example: Let's say Netflix has a Beta of 3 in relation to the NASDAQ. If the NASDAQ falls 3%, then the Netflix stock is likely to fall 3 times that at 9%. If the NASDAQ goes up 2%, then how high is the Netflix stock likely to go up based on Beta? ...6%.
In the crypto-asset class, Beta's for altcoins tend to be higher, which makes them more risky. SO, what would we compare altcoins to to find Beta? Well, that would be to Bitcoin. Because Bitcoin tends to control the market. So what we could say for Verge is that it has a high Beta (Just making this up, but 3 could be the Beta for Verge). If Bitcoin falls 5%, then Verge would fall 15%. This makes it more risky to own Verge on big market downtrends. BUT, if it you own it on uptrends, then you get more profit. If Bitcoin raises 5%, then Verge would grow by 15%. It's important to understand this concept, because when Bitcoin falls, you are NOT rewarded for holding a lower market cap altcoin. You are now at a disadvantage! Hopefully, when I get some time this summer I can make a post of calculated Betas for some of the top listed coins, so that you all can understand the market risks for these coins. The Betas can change over time as the coin develops. So remember that Beta is NOT constant for the full life of an equity!
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So this trade is definitely a long-term investment, and I'm not worried about any short term drops. Everything has bullish sentiment, and is just following market sentiment. But what makes me worry here is that we have fallen below support and 55 EMA. IF we don't get above those two landmarks soon, then I'll have to be a little bearish.
But we are both very oversold on the Daily AND weekly Stoch RSI. And uptrend at some point here is imminent.
So this trade is definitely a long-term investment, and I'm not worried about any short term drops. Everything has bullish sentiment, and is just following market sentiment. But what makes me worry here is that we have fallen below support and 55 EMA. IF we don't get above those two landmarks soon, then I'll have to be a little bearish.
But we are both very oversold on the Daily AND weekly Stoch RSI. And uptrend at some point here is imminent.
Here is one wave count that would mean we are done correcting very soon.