pgarret
Panjang

Verge bull flag

BITTREX:XVGBTC   Verge / Bitcoin
BITTREX:XVGBTC            
Chart speak for itself.
Komen: The bull flag didn't fully realized but we will get to the target.
Komen:
snapshot

Here are my thoughts on Verge for the next 7 days.
We are forming a big triangle, for now it appears to be a symmetrical triangle but if the support at 880 is not holding then the next logic support is 800 which gives us a descending triangle. Descending triangle usually resolve on the down side. So we got two choices:
1. if 800 holds we can go as high as 1450 - 1500 where we can breakout or come down.
2. the 800 support is not able to hold and down we go.
Komen: I'm still optimistic that XVG is going up, the reason is that we are forming a sea clamp (look at ichimoku indicators for that) which will drag up the price to around 1300. We got a tick bearish cloud around 1200 to 1400 so that will take some time (2-3 days) to get through or get around while the price can go lower again.
Will see how it goes.
Komen:
snapshot
Komen: We are on schedule as I mentioned above, will spend some time between 1200 - 1350, next target 1600.
snapshot
Komen:
snapshot

Here is an update with the targets
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