VERGE XVG/BTC UPDATE 5/6/2018

Technical Analysis:

• The extended correction potential has played out
• Another failed attempt at breaking out of this channel resistance (upper blue trend line)
  • Both the 55EMA and the 200 EMA are now acting as a strong resistance  as well
  • Verge will have a hard time breaking above 800 and 815 satoshi based on where we are right now
• Strong support at 760 satoshi
• Long term targets remain the same
  • BULL FLAG pattern still viable
• A strong green candle on the 4 hour chart closing above 835 satoshi could signal a move to complete the 5th wave of this cycle
  • This is still only a sub-wave of the 3rd overall primary wave moving towards 1500 ans 2000 satoshi
• RSI is dipping into oversold territory where it can only stay for so long
• Positive move to the upside will occur in due time
• See LINK for previous technical analysis, chart, and notes

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I am not a financial advisor, nor is this intended to be  financial advise. I encourage you to do your own research considering     this blog is  a way for me to  document my own personal  analysis,  charts, trading decisions, and experiences. If you would like to learn  more about trading, cryptocurrencies, and the resources I used to  learn    how to trade and invest, see my  previous post - LINK.