Pattern: Ascending Triangle
Verge has formed an ascending triangle:
Pattern 101 - Ascending Triangles:
Ascending Triangles are formed by higher lows and a constant resistance at a certain price point. The higher lows signify that Bulls are moving the price higher. As the price pushes against the resistance a surge in volume occurs and a breakout occurs. Usually UP! Extremely bullish pattern!
What to expect?
I expect XVG to follow the trend line and have a bullish breakout to $0.40 +126% gains!). If it falls it will most likely find support (blue lines) at $0.16 and challenge the resistance once again.
Recommended Guidelines to Follow:
- Wait for the Break Out
- Open your position by following the trend
- Set your target limits
** Always set your stop losses when long
I wish you MASSIVE profits on all your trades,
What cryptocurrency would you like me to cover next? Would you want these posts to be more detailed in a Technical Analysis standpoint or simple and to the point? Do you agree with this position? What do you think will happen?
Let me know in the comment section below!
If you find this post helpful consider buying me a Beer:
BTC - 3AQP9LMjY8SNSZ6nfpsn67nVQe3db8tg3K
ETH - 0xc486b894321d3520D40f257B7fDbf904b25aBD65
LTC - MTbXPRKTcuMLdN6czDeEXzdSus7MnbponG
XVG - DKBHQX5zxQPizLym9Y2uWzfmQVJ1fVt6wM
Disclaimer: Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.