Verge | Bottom Line Is Bullish
Regardless if it happens in 3 days or 3 weeks, Verge (XVGBTC) will end up green.
We mapped a perfect retrace on the 1st of July (see it below).
Now that the 0.786 Fib. retracement level has been hit, which is also where MA200 is sitting at right now, Verge can work its way out of this correction and resume its uptrend.
The thing is that the technicals are all still bearish, so the 0.786 Fib. support/MA200 can break if prices don't go up right away.
Regardless if this support level holds or breaks, we are going to see Verge grow after a few weeks or maybe just a few days...
The charts are always changing... Make sure to do your own research and have a plan/strategy before you trade.
I hope this helps.
This analysis was done by your request.
Namaste.
We mapped a perfect retrace on the 1st of July (see it below).
Now that the 0.786 Fib. retracement level has been hit, which is also where MA200 is sitting at right now, Verge can work its way out of this correction and resume its uptrend.
The thing is that the technicals are all still bearish, so the 0.786 Fib. support/MA200 can break if prices don't go up right away.
Regardless if this support level holds or breaks, we are going to see Verge grow after a few weeks or maybe just a few days...
The charts are always changing... Make sure to do your own research and have a plan/strategy before you trade.
I hope this helps.
This analysis was done by your request.
Namaste.
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