Verge / Bitcoin Breakout confirmed but testing support linessteemCreated with Sketch.

in #bitcoin2 years ago

As earlier posted in this Steemit article, https://steemit.com/verge/@mu5hu/verge-bitcoin-xvg-btc-possible-breakout, Verge/Bitcoin was forming a pennant and possibly about to breakout.
Verge did breakout over the course of the day (or night) and climbed up to 30% but has started to pull back sharply.
4hr

The 4hr chart shows the break out but the price has been falling back towards the top pennant line.

2hr

Things to note is that the volume hasn't been high on this sell off so it could just be profiting taking and weak hands panic selling.
It might drop to a low of the previous high on the 8th, which was around 0.00001333sats.

I'm still bullish on this breakout but we shall see as time goes on.
Good luck!