SUMMARY
VERGE (XVG/BTC) has broken out in both price and MACD. The below chart shows the types of patterns, Elliott Waves and Indicator (MACD) I've presented in other coins. The breakouts of this type are exactly what my analysis is projecting. So, what next? I personally require two rounds of impulse waves up to become convinced of a trend change. Note how I didn't say to buy; that's been done well in advance of the turn using the laddering technique.
The closeup of the waves show that the first round of impulse (blue waves) are currently in progress. I believe wave 5 up is in progress. Following that, a minor correction before the second impulse setup. It won't be a staright up process and also Bitcoin (BTC) has to collaborate or lead.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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