Verge struggling..Bitcoin pump near, Trader explains
The good
Bitcoin is at a very strong support zone that I believe is in the 8000-12000 range.
Although I try not making fundamental price predictions, bitcoin is currently standing around 10000 USD, and since it's in a solid support zone, I believe that bitcoin will soon be pumped, although it can certainly get close to 5000 before moving back up again.
The bad
Verge on the other hand isn't looking very good, it has failed 3 times to to make new highs after it's recent rally that started after John McAfee's promotion, and has since corrected over 50%. I believe the price action on the chart is hinting at a move lower towards the 500 Satoshi support zone.
With this in mind, I think altcoins like Verge are going to struggle & Bitcoin is going to do well in comparison, although this is a secondary rationalization for my predictions, it can still be considered since bitcoin and altcoins sometimes move inversely.
Best of Luck & feel free to upvote & follow!
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