Verge (XVG/BTC) Triangle correction with cup and handle targets
Updated
XVG is on FIRE! It broke before Bitcoin which is a great sign! Where are we in our Elliott wave count? I am a bit torn as I see a new low coming marking the end of the C correction wave, BUT this morning a triangle pattern formed which now makes me think we are about to see a HUGE 5th wave extension, thanks to the large cup and handle pattern, to around 1700 sats! The short term triangle puts us around 1200 sats and due to the spike on the 5th of April I am leaning towards a HUGE jump before the verge partnership announcement. With that being said I am expecting to see a drop back down to around 700 satoshi as we complete Wave 2 of our larger motive wave. If the partnership announcement is truly a game changer then the 5th wave AND correction will have to play out by the 17th announcement.
I have found MANY MULTIPLE cup and handle patterns fracking throughout the chart since we broke. The lower reflects the upper and this is why I am EXTREMELY bullish on XVG and these targets. I was around for EMC2 announcement so I don't buy into the hype so after the announcement this could be a make or break for verge. With the size of the jump I think it's more probable that we will see a larger wave 3 happening. This wave will bring us into $.60-$1 range. Good time for those holding Verge now!
I have found MANY MULTIPLE cup and handle patterns fracking throughout the chart since we broke. The lower reflects the upper and this is why I am EXTREMELY bullish on XVG and these targets. I was around for EMC2 announcement so I don't buy into the hype so after the announcement this could be a make or break for verge. With the size of the jump I think it's more probable that we will see a larger wave 3 happening. This wave will bring us into $.60-$1 range. Good time for those holding Verge now!
Note
I forgot to mention (don't see a way to edit my idea) that I am targeting 1700 sats due to the large cup and handle pattern which shows this rise.Note
Found the edit button! lolNote
XVG broke out of the triangle. Lets see where this takes us.Note
Just realized that my text was off on my target. The smaller line is set to 1287 not 1207.Note
Target passed for the top of wave 4 at 1350! Updated target at the top of our 5th wave to 1354 sats. After that we will see a gradual drop towards 713 sats.
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