WEDGE HOLDS - SUPPORT TREND LINE ESTABLISHED
Long Term Bias (6+ months) - Bullish
Medium Term Bias (4-14 Days) - Neutral to Bearish
Short Term Bias (2-3) - Neutral to Bearish
Long Term Target Prediction By 2019 - $0.30 / 0.00003500 Satoshi, Up to 600%
Firstly to correlate similarities to OmiseGo, we can see OMG form the same type of pattern, where it broke out to fairly exact 1:1 extension target 1, and 1:161.8 extension target 2.
We also see similarities in other coins like IOTA.
Here is IOTA during its wave 2 consolidation under $0.40 range before the massive breakout.
Then we know the rest with IOTA after breaking out.
We ask ourselves, can another chart that looks similar do the same?
Since BTC corrected to the $7,900 yesterday, we saw XVG form a bottom right along the trend line support, which now forms a beautiful falling wedge pattern.
Using a fib extension target of 1:1.618, there is a potential 600% play long term.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Tutorial Series
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Tutorial Part 15 Automatic Stop Sell/Buy Executions
Lesson 16 - Tutorial Part 16 - Advanced 55 EMA Strategy with Time Frames and MACD Part 2
Twitter - https://twitter.com/PhilakoneCrypto
Youtube - https://www.youtube.com/user/philakone1
If I've helped you, consider buying Luna and myself a beer
BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.
Really well thought out and well presented analysis. Followed and upvoted. I would like to request an analysis of bitshares BTS please.
Could you do another VEN update? It looks like it followed your predictions spot on! I followed your predictions and got a 11% increase in my holding
you are an amazing person philakone! I'm learning a whole ton.
Btw, do you intend on sharing how you track your trades in excel? I have trouble keeping the books straight.
Great Job on your TA. Hugs and kisses for Luna 🐶
done. she barely noticed :) sleeping beauty at the moment
Phil, if you can please help me understand something. In terms of btc, if xvg takes a long time before it grows,doesnt one lose? in other words...assuming btc increases....and xvg takes for ages to develop,in reality isnt that a loss? darn..lol i m not sure if I am even saying it right.
I get exactly what you mean. It'll be fairly proportional imo :)
Thank you honestly for being so open with your picks and analyses. It's extremely refreshing to be able to trust that someone doesn't have any vested interested in promoting their videos to sell memberships or services.
Thanks for the analysis - will be watching it closely.
Truly amazing on what you do my man , I am truly a fan of yours and will always support you because you have gave me the tools to potentially support myself!
Hey philakone ... thanks for this! Great analysis ... just curious to know if you use Elliot Wave to do analysis when you are scalping or short-term trading. Or do you use a totally different set of tools? I know you always say time-frame doesn't matter ... but just curious to know if its a lot different for scalping.
As a bag holder, I am beyond ecstatic to finally hear someone reputable speak something GOOD of XVG. Cheers for the TA, man. Keep up the great work!
HODL and buy on this drop.
Thank you for the great post.
Thanks for having my back <3
I literally watch every video and created a twitter and steemit just to follow you. You are the perfect example of a genius. If ever in Dallas, I will take care of anything you want! Thank you for each TA of mult coins and the educational videos about these math tools!!!!!!
I mean, just look at the growth of verge itself, it is almost the exact child to Bitcoin in the explosion of growth it has had, within DAYS.
Haejins hurry up and wait explains this I guess, but aswell as that concept I can see it proving the future exponential growth for these coins within an elliot wave cycle. I see the crypto space evolving drastically this year, just look at your followers, haejins, etc.
People are so damn interested and we havn't even started yet. Thank you so much for the information you have given us man, I can't begin to appreciate how much your free work is benefiting people like me and I hope with the growing crypto space that you too have exponential growth and happiness with helping as many people as possible.
I really would like to be at your level some day and help others, but first i'll stick my head in your content and be the best trader I can be.
<3
xp it will the best soon , it will listen on binance
Hey man, I’ve been following you on YouTube for a while, and you have always provided the most accurate and detailed technical analysis. Thank you for teaching us how to read the charts like a pro. Appreciate it and happy to find your steemit to support!!!
just logging into steemit for the first time to say how freaking amazing job you are doing. Every time you post a video or tweet I stop whatever I am doing and watch the video or tweet first. please don't change stay the way you are. this community needs you.
P.s how do I even up vote????
Hi master, how are you?
I have a request for you,
Can you take a look about DGD coin on binance? I think it's going very well, from yesterday to this morning at 10 am, London time, this coin maked +150% or more, what do you think' i think its going to raise again during this 7-8-9 hours. Here the chart:
I'm seeing a similar pattern with, POE & ENG. Is it an inherited pattern from a bear market? Is it safe to assume that, when BTC becomes bullish so will all other coins? Or are you taking into consideration other factors such as, fundamentals, price value, market cap.
Your charting is exceptional and I'm learning tons and tons. Thank you.
I do miss Luna's Verge address > from a practical point of view ;))
My favorite optional coin. Vendetta will take us to the moon