Darn was hoping for a wave C as I thought we hit the top of the fifth. Thank you for posting!
RE: VERGE (XVG/BTC): Breakouts in Both Price & MACD!!
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VERGE (XVG/BTC): Breakouts in Both Price & MACD!!
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So was I:)
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Here is what I think is going to happen. It just makes the most sense to me. The C wave could hit 600 but I wouldn't expect it to drop too much. XVG is on fire. This drop would invalidate the motive spike back on the fifth.
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I've been studdying XVG/BTC chart and what puzzles me is the spike back on the 5th. That spike would have to carry a full 5 waves (which it doesn't) and that would mean that the 5th wave we are in is going to be a extended-extended fifth. In other words get ready for a HUGE uptick so that we can use the spike on the fifth as wave 1 to a sub wave. OR we are in a ABC correction still. I see the cup and handle formation but dropping into a wave C would not invalidate the cup and handle. This is a tricky one. As of writing this comment we are dropping in price from our last touch of the top of the handle. It seems a bit funky if this is our sub wave 1 of our fifth wave. I re bought just in case we are going to jump. I am still leaning towards a low only because the current motive waves are not strong enough to justify anything substantial.
PS The line drawn across represents the top of the handle and I am targeting the cup and handle formation to 1600-1700 sats.
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