SUMMARY
IF BTC is going to bounce and likely bounce hard upwards; that means Altcoins like VERGE will also likely benefit! The WXYXZ pattern I had shown previously had a scenario where the Z was a triangle pattern, as shown below. I've added the Elliott Waves to indicate the first waves of an impulse at the smallerst degree of trend.
Here is the XVG/BTC and I can't tell the difference! When the BTC pair does NOT lag, it's often bullish correlation. This XVG/BTC chart also shows nearly identical WXYXZ triple combination count that ends in a triangle. Priceless! Laddering in!
The alternate calls for one more lower low; and that much depends on BTC which looks to be rising into a bounce.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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