XVGBTC - Verge Accumulation Zone
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Verge is looking like it has bottomed out and is beginning the accumulation phase. The bottom zone looks like it will hold nicely, has also been a major resistance zone in the past so will take some volume to push through. We have seen 2 rejections of the 250-260 area so it looks like the big boys are keeping us under here to accumulate. Also note volume spikes.
Swinging under here with buying around the 200 area and profit taking around the 250 mark. Holding some for when the rejection zone is broken. 1st target would be the yellow area `325
Swinging under here with buying around the 200 area and profit taking around the 250 mark. Holding some for when the rejection zone is broken. 1st target would be the yellow area `325
Note
Longer term viewYou can see that this area is quite strong on the weekly. Stop set under here. IF we break red zone, first target areas the yellow lines
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