CAUTION XVG WEDGEHUUUGE SWINGS to be made!!! Not financial advice as always… We are in a clear downward wedge pattern for VERGE right now. This is due to the FUD and of course the buy the rumors sell the news mentality. Lots or people are hedging out with the guaranteed profits vs. long game. Do what’s best for YOU!! The only way I see this downtrend stopping will be with an amazing partnership tomorrow. If Its Tokenpay, ledger I think we could see a sharp drop in price. Im not sure the Indian Flipkart will be enough either but who knows (Walmart and amazon do want to buy them so it could be good.
Short term watch the double down candles and look for the TTM to crosss from purple to blue (at least 2 candles then consider a buy in for gains. This requires time to actively watch and is not a buy and sleep tactic. It also is a great time to ensure you USE STOP LOSS tools lol
Blue shows previous channel projections.
Orange marks current wedge
Red and pink are marked resistance levels currently
In order to exit this channel we need a push above the top orange line for a breakout. If you look into the wedge you will see continued drops followed by 100-150 pt jumps. That is the things you should be watching for to swing trade this.
I personally split my investment on this coin and took about a 40% gains now approach (a few days ago) and am holding others watch for growth. Good Luck everyone!!!
