XVG has no choice but to break out from a massive falling wedge.
Updated
XXVG Verge has been forming a falling wedge since april 2019 and unsuccessfully tried to break out 4 times.
The pressure on the dynamic resistance (green line) is now huge as we are approaching the bottom level around 38 sats.
Verge has to break out no later than September 10th or we will explore new lows around 32 sats.
If xvg breaks out the first target will be the resistance marked by the blue line around 50 sats.
But the most important resistance is marked by the red line and is around 55 sats.
After breaking it, verge will start a new uptrend and potentially a bull run.
TP 1: 50 sats
TP 2: 55 sats massive resistance
Tp 3: 70 sats accumulation zone
Tp 4: 90 sats accumulation zone
Tp 5: 100 sats massive resistance
Tp 6: bull run
The pressure on the dynamic resistance (green line) is now huge as we are approaching the bottom level around 38 sats.
Verge has to break out no later than September 10th or we will explore new lows around 32 sats.
If xvg breaks out the first target will be the resistance marked by the blue line around 50 sats.
But the most important resistance is marked by the red line and is around 55 sats.
After breaking it, verge will start a new uptrend and potentially a bull run.
TP 1: 50 sats
TP 2: 55 sats massive resistance
Tp 3: 70 sats accumulation zone
Tp 4: 90 sats accumulation zone
Tp 5: 100 sats massive resistance
Tp 6: bull run
Comment
Xvg is currently trying to break out from the falling wedge for the 5th time.resistance level: 41 sats.
Closing above 43 sats on the 4h would be a breakout confirmation.
Comment
Xvg break out comfirmed!!!Next resistance to break: 50 sats
Comment
So far everything goes according to plan.Xvg will try to break 50 sats today, it's currently at 47 sats and the Daily and 4h RSI still have some juice.
Comment
As predicted, Verge is now trying to break the second resistance. (blue line)Comment
The bottom is in!Higher lows, the volume is back with a X6 today.
We have all the ingredients for a strong reversal.
Comment
Massive breakout confirmed. My TA aged very well as I called it in September 6th..
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