Verge coin already successully break symmetrical triangle chart pattern and create new high so if we use here Dow Theory so we have already HH and new HL so possibilities here start uptrend and you can book good profit for short and mid term.
Symmetrical Triangle is a chart pattern, Characterized by converging top and bottoms. The bottom of the triangle is an up sloping support trend line and the top is down sloping resistance trend line. It may be both reversal or continuation chart pattern.
An uptrend can simply be defined as a series of higher-highs in price, Coupled with higher-lows. In other words, the overall price direction is higher, Even though the price will experience corrections along the way. A downtrend is a series of lower-high and lower-low price swings.
hey ,,,, is there any update about XVG/BTC as you know it BTC is falling and what should be the stop loss regarding XVG/BTC or we should Hold this month in December.
@JD-007, while Xvg/Btc might pump some the over all outlook for Xvg/Btc looks pretty grim for a while. Stick to your stop losses if you want to catch the short term stuff, but its pretty risky. Dont let people get you into trouble and always error on the side of caution. This is what I see in the Xvg/Btc chart for more of a long term investment,
globalrashid
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@CosmicFry21, Good where is your stop loss in Xvg?
CosmicFry21
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@Cryptorichest, I'm not in this trade. but if your talking about taking this trade to the long side i personally wouldnt take it. But if you are already in it I would place it a good amount below the moving average which is around 156 sats but what is typical for crypto is that they usually take it pretty deep on purpose trying to trigger stop losses.I would wait for them to bring down under the 50 sat area and let it bottom and jump in once you get confirmation that is headed up.
I never think xvg come below 50 sat.
If bitcoin hit 1100$ then it's possible otherwise no.
CosmicFry21
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@Cryptorichest, to go below 50 sats I think that yeah btc would have to go to 1k but I think 50-60 sats is where xvg will most likely turn north.
globalrashid
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@CosmicFry21, if will go there so it's huge opprtunity to buy.
CosmicFry21
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@Cryptorichest, yup
JD-007
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@Cryptorichest, same here... If btc comes under 1500$ XVG would also but BTC cant get under 3000$ right now not impossible but including some factors its not gonna come back ,,, there would be a short rally in bitcoin and so we can see XVG 250+ for sure for short term