The ole Verge is about to POP [TA - Short Term Update - Meme - Cryptololz]

in #bitcoin7 years ago (edited)

We all remember when we were Vergins before the massive pump... Well things come full circle, especially for VERGE currently. TA BELOW!

wassup
28117650_10216323025774551_1695158946_n.jpg

We'll start with a short TA:

Since verge's MASSIVE rise of around 100x, we have seen a massive decrease in volume. This behavior is typical of a market shedding weak hand and MASSIVE sell offs. Many of the holders (and rightfully so) took profits on their holdings.

We can see that many trades, however happened between 1000 and 1200 sats.
Screenshot 2018-02-17 at 18.22.40.png

This might indicate that the price could very well rise back to that price.

Zooming in to the 2 week view and recent spike we can see that the calm before the storm may be coming to an end!
Screenshot 2018-02-17 at 18.27.28.png

Much of the volume is still well below the majority of the spike of the price rise.

At the 1 week view, we can see that this spike is rather small to the big picture, volume wise, but is still a significant marker of what may be to come.
Screenshot 2018-02-17 at 18.29.33.png

This is mostly hype, probably, and if I were wanting to buy in, I would wait to let the price fall more. Let the game come to you and you could probably capitalize on a greater than 10% extra return.

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Thanks!

Thank you! I really appreciate the comment!

This volume profile is actually great and its pointing for a way more room to go upside
price will tend to go to the spike zone in vol most likely, lots of people trapped there.

I had to do it!
FB_IMG_1516988467497.jpg

Intersting chart read but I see going sideways between 6c-8c. Its slowed down doing its higher highs.

yeah it's important to know your timescale

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