Here is an update on Verge, XVG/USD pair.
Here is a 1 hour chart over the ongoing correction, labelled as done. This is my primary count, and if it hold true, we have already finished 1. subwave up on a bullish path!
Also volume have been declining through the correction, and turned to more buyers around corrective wave C.
However, due to the irregular subwaves in this 3-3-5 correction, it could look like it should have another lower low.
Let's check to see if this could happen.
Redrawing the subwaves show clearly this is not the case, as the waves would overlap too much!
If this bull scenario holds true we could see price go to 30 and then 40 cents as shown here in the 1 day chart.
If you have another view on this your welcome to discuss and post your charts in the comments.
Comments are highly appreciated, and if you profit from this chart, or enjoy my post, please upvote, resteem and follow!
I have learned this profitable EW charting by @haejin btw!
These charts are done at Hitbtc exchange
If you feel like buying me a beer:
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Which trading platform are you looking at? For Bittrex 1 and 4 are not overlapping in the second scenario - neither for XVG/USD nor XVG/USDT.
Unfortunately, this is my primary count right now, but I also would be happy if the correction is finally done.
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This is at Hitbtc, It could be just panic sellers and fomo buyers doing this, as Hitbtc also have a trollbox it is easier to get emotional.
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