Verge Analysis Continuous

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Dec 26, 2017
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#41
I thought the same thing until I started reading charts, and as I'm in AUD theres no charts available, so I read in sats and I watch BTC price, I use a calculator, its all sorta programmed in back of mind now and I can guesstimate AUD price, or I just confirm at my exchange in fiat, it helps to watch BTC I think, gives me a feel for the market. Sats may be silly but also very relevant, and getting used to decimal points and all that is good practice. Doesn't sound like you are spending BTC or earning it ?
It's funny I'm having this exact conversation with someone else. I said the same thing to him "I wonder how many people are actually making money"!

I am only interested in how much my crypto is going up in GBP really but most charts only offer USD. I don't spend BTC no and never have. I spend USD and GBP however.

When I look at my Bicton I am only interested in how much it's worth in money I can spend. I understand the dominance thing but that's what I use Coin Market Cap for.

A coin can go down against Bitcoin but if it's going up in USD do you care? All it means is either BTC is going up or down at a rate faster or slower than said coin.

It's a good way to understand the underlying strength of said coin and how dominant it will be in the long run. But what if another coin becomes the market leader then we will be using something else.

Until I can spend BTC I am not one bit worried how much it goes up or down against it. I am only interested in knowing how much money I have if I cash out!
 

Vergel88

New member
Jan 1, 2018
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#42
I agree with that and each to their own whatever works, It helps my trading to understand sats due to the markets and charts etc. Sats besides being old school as early BTC/Alt markets were all pegged to the dominant Crypto as you know, and fiat is how you enter that market or with BTC, it should be said that sats is a more accurate price in crypto market terms, as a Fiat/Alt price has gone through a exchange with it's margin added to spot.
Some exchanges work only is sats as BTC is the default currency, yeah this will change in time to other as BTC becomes unable to compete.
Early 1st wave and second wave investors think in BTC more than alts and fiat. Sure its easier to see movements when your comparing to a stable fiat currency, albeit illusory stability lol
 
Last edited:
Dec 26, 2017
38
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#43
I agree with that and each to their own whatever works, It helps my trading to understand sats due to the markets and charts etc. Sats besides being old school as early BTC/Alt markets were all pegged to the dominant Crypto as you know, and fiat is how you enter that market or with BTC, it should be said that sats is a more accurate price in crypto market terms, as a Fiat/Alt price has gone through a exchange with it's margin added to spot.
Some exchanges work only is sats as BTC is the default currency, yeah this will change in time to other as BTC becomes unable to compete.
Early 1st wave and second wave investors think in BTC more than alts and fiat
Every time where it has been possible I have sold my coins for Litecoin and then transfered that in fiat. Reason being is a friend got burnt trying to purchase ADA and by the time the transfer had gone through BTC was down a lot and ADA was up a lot.

Litecoin has sorted that situation out because everything can be finalised in 30 minutes or less.
 
Dec 26, 2017
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#44
Hello people. Sorry I haven't posted in a while but I have been back at work.

Still my view hasn't changed, I said we would be in a consolidation for sometime. Whilst others drew wedges on charts and said "to the moon after we break this line" me and many who really understand trading is more difficult than elliot wave realised it was going to take longer.

See Elliot Wave doesn't work like it used to, trading bots and larger money have entered into the market and things changed.

However we are in a Bull market and I'd say 70% of the time you see a wedge after a move upwards the chances are it's going to break to tget upside.

But that doesn't make you a trader, try using Elliot Wave in a range bound market, you will blow up your account!

Here we have the daily chart of Verge and as you see the volume is dying as we near the bottom of the range.

My long term view is up and I am happy to wait for however long it takes. There are levels however where I would sell and buy back in lower. A break of $0.09 on high volume would see me sell.

However I don't think it will come to that. What does need to happen is the weak hands get out so we can rise. We will only know how close we are to that point the next time we hit levels such as $0.24 and above. If we make it past there would little effort then we should be looking at new highs.

Screenshot_2018-01-15-10-39-43.png
 
Dec 26, 2017
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#45
Well well well. The market continues to fall. I would advise anyone who has profit to get to it now and buy back in at a lower price as we possibly are going to $0.05 and lower. There is a potential stopping area at $0.065 level.

This is what happens, we spent so much time messing about going sideways with a market full of inexperienced traders that what you are seeing now is literally people jumping off what they think is a sinking ship!

This is what's needed to get new buyers back in and allow price to rise. Only this reset will allow for higher prices. It has to happen and it's good for the market.

It's not good for people who bought high listening to people who don't really know what they are talking about but if you have profits get out now and buy in lower.
 
Dec 26, 2017
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#46
Volume is still super low on the Daily. Volume has picked up on 1 hour chart but is only high relative to what has come recently.

Usually if there is a sustained move on low volume it means the big money is not involved and in that case you always need to be on the look out for a trap.

As said earlier it looks to me that everyone is getting out scared they are to lose all their gains.

This must be hard for people that bought high but my advise is to hold of you are in loss, hopefully you haven't spent anything you can't afford to lose.

Regardless this is just how markets work and next time we reach a high we will have a similar sequence of events as weak holders get pushed out, allowing the market to finally rise.

Get used to it, this is how markets work.
 

cloakfox

Administrator
Verge Team
Nov 30, 2017
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vergefora.com
#47
M @Mwalmsleyuk Hey are you able to make a new TA? Loads of news and volume right now. Pretty interested to see.