SUMMARY
The whole Cryptosphere is following Bitcoin (BTC)'s lead in this healthy correction. This is because the similarity index of sentiment across Cryptosphere is very high. It's often called "All the Same Market" phase. Given how small the Cryptosphere market place is compared to the equities, such similar market uniformity is quite common. Take into consideration the frequencies of Cup & Handle, Symmetrical Triangles and Jaws of Wealth patterns. These are the result of sentime being quite similar across coins.
I've consistently said that Bitcoin is the moon that moves the tides in the Cryptosphere Ocean and every altcoin swims in that ocean. The same for, If Bitcoin sneezes, then the Altcoins catch the flu!
The below chart is a shorter degree of trend view of VERGE (XVG). The white A,B,C Flat corrective waves are in progress and wave C can be sublabeled with 1,2,3,4,5 (green) waves. The first landing zone target is $0.0444 where a buy ladder can be cast.
It's important to understand what laddered buying is, how it is cast and why. To this end, I recommend a view and study of my Laddering tutorial video.
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
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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