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RE: VERGE EXPLOSION ALERT!! VERGE is about to GEYSER OUT of the Triangle !!
This is a great opportunity to see whether the TA or the FUD will prevail on Verge. As much as the potential profit is intriguing, I will sit this one out. Too much drama for me..best of luck to all.
Wait - I was told Elliott Waves show what will happen - and it will happen anyway, whatever else happens - so that whatever else happens just serves as a post-factum explanation of what Elliot Waves showed in the first place. But maybe I misunderstood, I'm not very clever ;)
That's what is so difficult... To turn your head around from looking for news, to looking for price development and probabilities in patterns to determine the path ahead.
The way I understand it, wawes show the pattern and allow you to count them until correction is imminent. So you get sort of a map. But it doesn't show how long they are actually going to be. If BTC rises fast, it may shorten the wave. But not change the fact that pattern occurs. But I barely know what I am talking about. So any opinions would be appreciated.
As haejin says the TA is probability but anything can happen. TA doesnt care for human irrationality,news,price manipulation,etc.
However,one can easily look at the trades on binance and see that there are some very small number of whales manipulating verge price.
This is not against haejin,the master is showing the way but I am sceptic of verge.
Ellott Waves are ALL ABOUT human irrationality, Elliott himself said so - this is true for other TA techniques as well - projected onto a mass, human psychology becomes a foreseeable force way more predictable than it could be on an individual basis.
As to price manipulation, that's of course another matter, and you should be prepared to encounter manipulation where you least expect it, or at least where you would have hoped to never encounter it, and not just from whales...
I may ladder in, eventually. There's just too much going on right now, especially with BTC making a run. The dev(s), while working hard, aren't showing much professionalism all around.
Kind of reminds you of bitcoin 6 years ago(maybe even now as they can't agree how to scale), remember it's an open source project. You can contribute.
You shouldn't sit this one out, the drama on this is what makes xvg very interesting. All press is good press in the end. Go back and read about Cardano when it was .01-.10 cents everyone called it a crap coin also.
good point!