VERGE (XVG) - Analysis (130% POTENTIAL PROFIT)

in #bitcoin7 years ago (edited)

We're On The Verge Of A Powerful Impulse

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Not gonna talk about fundamentals or the benefits of this coin. If it's THE privacy coin that will come out to be the biggest or not, I don't know. What I look at is technical analysis and chart patterns combined with Elliott Waves counting. I do however take fundamentals into consideration when investing long term.

I'm basing this investment opportunity on 3 bullish signs that I can see looking at Xverge.

  1. FINISHED CORRECTION: I believe we've just ended a ABCDE correction and getting ready to make a new impulse of five Elliott Waves.

  2. BULLISH WICK: We did make a little bullish wick which means that the price broke through the bottom of the triangle and then went back in again.

  3. DECREASING VOLUME: If you look at the blue line under the triangle, you can see that the volume is decreasing and getting ready for a new impulse. This could mean that the sellers are getting exhausted and we're setting up for a new rise.

I've also drawn out an example on how the MACD would look like when we're making the first impulse wave. So watch out for that too!

For a brief explanation on triangles and MACD, please check out my recent post on REDD

If you like my blog, please upvote and resteem. This analysis was a request from twitter and I'd be glad to do requests here too since I care the most about Steemit.

Investment summary:
⭐⭐⭐⭐ 4 out of 5 stars on this investment

🤑 Short Term Target at 0.00001583 BTC
💲 Potential profit 48%!

💪 Mid Term Target at 0.00002256 BTC
💲 Potential profit 111%!

🚀 Long Term Target at 0.00002453 BTC
💲 Potential profit 130%!

Follow me on Twitter and turn on notifications to get instant updates at http://www.twitter.com/benkalashnikov

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xvg explain.png

Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.

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verge looks a little bit diffrent now. what do you think? still a bull wick?

I hope this TA works... Thanks + UPVOTE

Appreciate it!

We will see who is right,You,or Haejin Lee.

I believe our counts are similar though

Hey @benkalashnikov

Im keen to hear your thoughts on verge after the lower trendline was broken. I predicted it would drop between $0.08-0.06 minimum a few weeks back using EWT: https://steemit.com/verge/@youareyourowngod/verge-xvg-prediction-using-ewt

My next prediction is it will shoot back up to between $0.12 - 0.14 and stabilise a little bit before making any big jumps again. Im really interested to hear your next prediction though!!

thanks will follow you!!

Thank you Gregor! Followed back!

I hodl 1200 XVG : )

Ah! Good news :) i bought 1000 XVG around the 1400 mark, so I'm really looking forward for some gains.
Thanks for the analysis and the thourough info in the charts!

I hear you :) sometimes you just need to have patience

This post has received a 2.47 % upvote from @boomerang thanks to: @benkalashnikov