Verge (XVG) testing an interesting break-out level!

Jan 12, 2018

XVG is about to break a triangle pattern on the upper end, which is bullish (note that you have to pay some attention with these types of triangles, follow up the price to confirm the trade).
- MACD (bullish cross) and CCI agree
- We can clearly see the same pattern repeating in the chart, providing us at least a short term opportunity
- Note that the Bollinger bands get tighter and tighter
- Volume is a bit higher and green
- Strong support on the 50% Fibonnacci retracement level (1021 satoshi) --> if trade can't successfully break and keep above the triangle, get out around 1066-ish at the lowest
- After that strong support on 61,8% level (793 satoshi)
- Resistance at 1249 satoshi

trade was started at 1035

Jan 15, 2018

Trade closed: stop reached

Quick update: Trade closed: we saw the upward movement struggling at triangle resistance and the price eventually breaching the triangle support, so we got out around 1066 - no harm done, and as we can see at the moment, we are still flirting with the support line... we'll just have to be a little more patient before price can start moving up again ;-)
(see next XVG posts!)