Verge / BitcoinShort
XVGBTC - Bearish Flag (SHORT)
Updated
Alright, so the Wraith protocol release was a huge disappointment, and the market reacted in a understandable way.
However, given some indications it seems that the correction may not be over. If we break the top support of the flag (upper blue line), we may see some bullish movement (very doubtful of this at the current moment). If we break the bottom support of the flag (lower blue line) we will see further bearish movement, which is the direction it seems that we are headed for.
Given the previous market support and resistance barriers, the purple lines indicate barriers that the market will have to test as we move up and down in price.
Expect market reaction around these levels.
However, given some indications it seems that the correction may not be over. If we break the top support of the flag (upper blue line), we may see some bullish movement (very doubtful of this at the current moment). If we break the bottom support of the flag (lower blue line) we will see further bearish movement, which is the direction it seems that we are headed for.
Given the previous market support and resistance barriers, the purple lines indicate barriers that the market will have to test as we move up and down in price.
Expect market reaction around these levels.
Note
Correction at 991 satoshis atmNote
Target: 851 satoshisNote
Target hit: 1-2-2018 16:00:00
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