VERGE (XVG) Is Following Bitcoin (BTC)
SUMMARY
The whole Cryptosphere is following Bitcoin (BTC)'s lead in this healthy correction. This is because the similarity index of sentiment across Cryptosphere is very high. It's often called "All the Same Market" phase. Given how small the Cryptosphere market place is compared to the equities, such similar market uniformity is quite common. Take into consideration the frequencies of Cup & Handle, Symmetrical Triangles and Jaws of Wealth patterns. These are the result of sentime being quite similar across coins.
I've consistently said that Bitcoin is the moon that moves the tides in the Cryptosphere Ocean and every altcoin swims in that ocean. The same for, If Bitcoin sneezes, then the Altcoins catch the flu!
The below chart is a shorter degree of trend view of VERGE (XVG). The white A,B,C Flat corrective waves are in progress and wave C can be sublabeled with 1,2,3,4,5 (green) waves. The first landing zone target is $0.0444 where a buy ladder can be cast.
It's important to understand what laddered buying is, how it is cast and why. To this end, I recommend a view and study of my Laddering tutorial video.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Thanks for updating Verge. I've also posted updates on several coins.
IMPORTANT Coin Updates (BTC, ADA, BTS, EMC2, ETC, GNT, SBD, STEEM, XVG)
https://steemit.com/bitcoin/@benkalashnikov/important-coin-updates-btc-ada-bts-emc2-etc-gnt-sbd-steem-xvg
we have three guys here for this prediction which one to believe?
@haejin target 0.04
@salahuddin2004 $1 for verge
@benkalashnikov something else
@kimjongpoo is coming for you!! Ignorant master will never reply to a petty fool like you!
I’d snag some $0.04 Verge
SAME...
@kimjongpoo is coming for you!!
Just bought $1500 more worth of steem. Gonna be investing more in steem power! Love the prices staying low while I allocate in.
It's not staying low, it getting down
Just because all is getting down in thiese days!
After the correction, i guess also steem will rise up! :)
@kimjongpoo is coming for you!!
"I've consistently said that Bitcoin is the moon that moves the tides in the Cryptosphere Ocean and every altcoin swims in that ocean. The same for, If Bitcoin sneezes, then the Altcoins catch the flu!"
You don't have to analyse altcoins anymore. 😉
@kimjongpoo is coming for you!!
Verge will bounce back just like many of the alt coins it just depends if you believe in the technology and the market. Just relax and understand that not all markets can constantly go up. You have to take the rough with the smooth! HODL and Chill peeps! Face ur fears live your dreams! :)
This is a pretty significant crash, many of the alt coins may not recover or it will be a slow process, especially ones with poor fundamentals or use cases. Most of them have had a great pump up, now we see the dump, only the better ones recover from here.
@kimjongpoo is coming for you!!
It is very difficult to predict exactly what will happen with Bitcoin's price in the future. Any currency can be the object of collapse. @haejin
@kimjongpoo is coming for you!!
KAOS is a beautiful thing - when you bet what you can afford - but hell for those who borrowed.
https://www.tradingview.com/chart/BTCUSD/0JqCEc4z-BTCUSD-Possible-Correction-Scenario/
I totally nailed the bitcoin correction.
Please check my tradingview and steemit blog.
Its not only Verge.
I understand the whole Big daddy Bitcoin thing but how does this happen.
Almost identical? Synchronised movement, how?
And this is only a few coins, its pretty much across the board.
Isn't the answer painfully, blindingly obvious?
These coins are all priced in Bitcoin, and Bitcoin went down hard.
What happens when the denominator of your value takes it on the chin? Derp.
Hey Vynl, to explain why, I think a majority of big players knew that Bitcoin was coming down, when it broke support, a crazy amount of traders (including me) sold EVERY COIN in their wallet to collect what was left.
You could call that Fear but I call it being greedy! We now have a chance to almost DOUBLE our BTC value If this correction ends in 9-8ks.
I firmly believe this is what the mega Bitcoin whales are doing at the moment, causing fear while staying greedy.
Just my opinion of course~
Bingo, you get it. That is exactly what is happening. So many weak hands losing their shit and calling their bosses asking for their day jobs back right now. "The sky is falling!" and "Haejin is a fraud!" lol.
Give it a month and we'll be staring new ATH's right in the face.
Yeah but have a look at the chart, theres up movement and sideways movement too. How did "everyone" all at the exact same time sell and buy every coin to make them all move in syncrinicity?
If every person holding these coins all had a huge phone conference call and agreed to all hit sell at the same time on every coin they have then all buy and hold for the same amount of time etc maybe you could get the charts to all look the same.
Do you get what im in about here? The lengths youd have to go to to get the charts to look identical would be outreageous and yet im seeing identical patterns across multiple coins. I still havent heard a convincing explanation how this happens. If its impossible for charts for different coins to all look identical moving upwards, its impossible for them to look identical coming down isnt it?
You are right. Noticed it also. It seems a lot of trading is done by bots / automated system. I am quite sure it is.
Bots. Plain and simple
Think of it as King Tide - and Bitcoin is the KING and The Tide
Well if thats the case we dont need to do any TA on any other coin, they should all mimic Bitcoin. But they don't so your analogy doesnt work. I understand how big an influence Bitcoin has but i cant get my head around how multiple coins move in sync like that.
Why havent i seen this happen before?
Why only on this correction?
@kimjongpoo is coming for you!!
your welcome Haejin. anytime. ;)
What I did with $1000 fiat today
Ada Cardano = $500 at 4850 sat = 952 units
FunFair = $200 at 700 sat = 2850 units
Groestlecoin = $100 at 7400 sat =115 units
Aragon = $100 at 37000 sat = 25 units
Stellar Lumens = $100 at 3200 sat = 250 units
You should have waited for a minimum of 1 week. You could have bought double for the same price
There maybe another %50 dip and Yes maybe your %100 right. If that happens I will look to projects which i believe still have huge potential. And i will scoop up $1000 more and hit my unit goal for other Coins. No Stress.
That's the whole point. Once things get to a normal level go for the long term coins like NEO Komodo and Cobinhood and gamble with some IndaHash (IDH) Bitclave (CAT) and maybe MANA.
After Bitcoin makes his final head dip -wereever that may be- things have to go up on a more natural way. Not making you rich overnight, but making you wealthy during time.
Good luck and happy trading
Whinnie; Whinnie, poor Whinnie. Pay attn.
.......oh and keep an eye on High Performance Blockchain (HPB) it might get huge
@kimjongpoo is coming for you!!
i'm buying more xvg