Updated
Scenario Using Previous Impulses and Corrections
I have no idea how far Verge could go, the Bitcoin bull needs to remain in-tact at least. If it does remain in-tact, then using previous impulses and corrections could give some indication of where price could go. This isn't a prediction in price, rather an idea to shed some light on its potential using previous cycle times.
- Impulse 1
- Correction of impulse 1 took 3 times longer to form.
- Impulse 2 was 2.382 times the length of impulse 1.
- Correction 2 took 3 times longer to form than impulse 2, the same length as the prior cycle.
- If using the same time data, impulse 3 would be 2.382 times the length of the previous.
- This could mean end of cycle in December 2021
- The target, simple, top right corner of the box $1.16
Note: This is not a prediction of price, simply an observation of historical price and time. This should not be considered as a reason to buy Verge.
- Impulse 1
- Correction of impulse 1 took 3 times longer to form.
- Impulse 2 was 2.382 times the length of impulse 1.
- Correction 2 took 3 times longer to form than impulse 2, the same length as the prior cycle.
- If using the same time data, impulse 3 would be 2.382 times the length of the previous.
- This could mean end of cycle in December 2021
- The target, simple, top right corner of the box $1.16
Note: This is not a prediction of price, simply an observation of historical price and time. This should not be considered as a reason to buy Verge.
Note
Scenario did not play out, too easy I suppose. Remaining bullish on Verge for the foreseeable future. Will be interesting to see what the time extension will be on the next top. Good luck out there!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.