XVG BTC bull case exponential waves scenario
Just wanted to share with you a scenario of accelerating exponential price increase in Verge / Bitcoin pairing.
Here's a few considerations on which the analysis is based:
- The price has already skyrocketed like this twice: december 2017 and march/april 2018. The pattern was a clear 3 Waves accelerating bull run supported by an exponential curve, like the one i tried to draw on the graph.
- Wave 1: done ✔. Rekted the folks who were expecting the breakout of 100 sat theresold, and then "healthly" retraced on 80 sat last night, where the price got supported by the previous resistance (this is a very bullish signal);
- Wave 2: sharper and more pointed than Wave 1. Major resistance at 350 sat (it was a big big support on march 2018, so it's reasonable to assume the price will bounce on it). The price could then find support after soon on the previous resistance neckline or on the exponential curve;
- Waver 3: sharper and more pointed than Wave 2. if the price should be able to breakout the 350 resistance, there will be litterally NOTHING left on the orderbook: the only resistance we could assume to see is just the marketcap. We may see a spike of Verge between 15th to 25th place rank, so between 1 bln USD / 500 mln USD of mkt cap, which implies a price up to 700 sat.
Of course there are tons of dealbrakes which could invalidate this pattern:
- whales cashoutting on retailers;
- bitcoin decides to crash making panic takeover on euphoria;
- etc etc...
No financial advise. This is a very optimistic scenario and nobody is suggested to ride it without been conscious that a breakdown of this trend would mean a potential loss of months/years.
Have a nice day, cheers!
Vito
Here's a few considerations on which the analysis is based:
- The price has already skyrocketed like this twice: december 2017 and march/april 2018. The pattern was a clear 3 Waves accelerating bull run supported by an exponential curve, like the one i tried to draw on the graph.
- Wave 1: done ✔. Rekted the folks who were expecting the breakout of 100 sat theresold, and then "healthly" retraced on 80 sat last night, where the price got supported by the previous resistance (this is a very bullish signal);
- Wave 2: sharper and more pointed than Wave 1. Major resistance at 350 sat (it was a big big support on march 2018, so it's reasonable to assume the price will bounce on it). The price could then find support after soon on the previous resistance neckline or on the exponential curve;
- Waver 3: sharper and more pointed than Wave 2. if the price should be able to breakout the 350 resistance, there will be litterally NOTHING left on the orderbook: the only resistance we could assume to see is just the marketcap. We may see a spike of Verge between 15th to 25th place rank, so between 1 bln USD / 500 mln USD of mkt cap, which implies a price up to 700 sat.
Of course there are tons of dealbrakes which could invalidate this pattern:
- whales cashoutting on retailers;
- bitcoin decides to crash making panic takeover on euphoria;
- etc etc...
No financial advise. This is a very optimistic scenario and nobody is suggested to ride it without been conscious that a breakdown of this trend would mean a potential loss of months/years.
Have a nice day, cheers!
Vito
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