SUMMARY
As requested, here is VERGE (XVG) which has breached out of the symmetrical triangle after carving out wxyxz waves (blue). The final abc for the z wave is quite complete as well. The key question is whether higher highs are likely.
What in previous update had been a symmetrical triangle has likely merged into a bullish ascending right triangle. As Bitcoin is climbing higher and likely so overnight continued; Verge should reach for higher highs. As it's an altcoin with not as much liquidity maturity; it's likely a bit delayed compared to Bitcoin's earlier and quicker reversal. The microwaves shown the likely projected pathway. These first impulse set of waves will be subwaves of a higher degree wave 1 and after a minor correction, then wave 3 will initiate the second round of subwave impulse (not labeled yet).
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
