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Verge / Bitcoin

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XVGBTC trade ideas

Verge - Approaching 78.6% retracementTaking a look at XVG on the 4 hour chart. Verge has been consolidating since it's massive run up in December. I see a falling wedge pattern indicated in blue. Price action managed to break through a resistance line about 2 weeks ago, which has now become support. If this support line can hold, we could start seeing the price squeeze with that upper blue boundary until it pops. RSI is hovering above 30, but a bearish MACD. I imagine the price will continue to drop until support at 465sat and 330sat after that.
by jpbrown1023
Possible play for XVG/BTC in the coming few hours.This looks like we're about to break up or down, the closer we get to the apex. Personally I will wait to see if it breaks up, in which case I will enter a trade and target a quick 6-7% gain with my stop loss at 3%. This gives a pretty nice risk/reward ratio and it's a trade I would always take. If it breaks down, I would usually short it with same targets but I don't own any verge at the moment and my exchange doesn't provide this. Goodluck!
by kingjardan
1
Consolidation complete? Perhaps sideways for a bit then up?I'm seeing 4H RSI that's getting pretty low and Bollinger bands that are very narrow, which leads me to believe we can perhaps expect upward movement in the near term. It's also trading pretty sideways at the moment, meeting resistance at the red horizontal line (550-580 sats). I'm thinking we're getting close, if not at the bottom right now. Not sure about any news coming up or anything but this feels like a good buy for a long term gradual increase hold. I may consider selling any pumps (like the last one we saw in mid-March) but we'll see how I feel at the time. Open to thoughts from others.
Long
by mromisego