Verge (XVG) Breaking out of contracting triangle!! Up and away!!

٩ يناير ٢٠١٨

We are finally coming out an extended period of consolidation which took shape in the form of a contracting triangle. With tons of Volume today in the Asia session we broke through the upper trend line of the triangle and hit massive selling pressure with a big spike. Price action has come back down to the break out point for a retest and is finding support! The trend looks to be up, keep in mind a 3rd wave coming out of a triangle can be very extended and go up with little retracement. Buy the dips but if you are in stay in.. I'm using Fibo expansion tools to make projections. Wave 3 is never the shortest and should be at least as long as wave 1. Buy Verge