SUMMARY
NOTE: If this blog gets downvoted; @ranchorelaxo has our backs!!
VERGE (XVG) is correcting but in a very fractal manner! Check out the below Baby, Mommy and Papa fractals. Very uncanny and cryptos just love fractals. If this is correct, then this is nothing more than a healthy correction to load for the next run UP!
The Mommy fractal took prices equivalent to the white vertical line drawn from its bottom to the top of the PaPa fractal. Now, proportionality plays into the price projection; so, since the PaPa fractal is 2.5x the MaMa fractal, the vertical line has been extended 2.5x and that provides around $0.70 target. Not too shabby.
Best, of all, the below shows a MASSIVE JAWS of WEALTH pattern where price now is pretty much sitting on the bottom line. Now, the price can pierce the bottom line briefly and return back into the Jaw. The good thing this bull wick would do is get rid of all the weak hands.
For the XVG/BTC pair, look how the three fractals are also present! Check out the BREAKOUT!! When the XVG/BTC and the XVG/USD jive so well...have a cup of bull java!
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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Legal Mumbo Jumbo: 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.**