TSI_Analytics
Long

Verge/Bitcoin, Long position, H1: The beginning of fifth wave

BINANCE:XVGBTC   Verge / Bitcoin
The price chart has reached the Fibo level of 61.8%, so we expect the fourth wave to end and start the fifth one. Breakout of the resistance zone marked by red line and price close above EMA15 and EMA35 would be an optimal signal to open long.
Target level for movement in the context of the fifth wave may be 0.00001182 - 0.00001260.
Trade active: The resistance level was broken through, after which the first and second subwaves of wave 5 were formed. Since the second subwave reached 61.8% of the Fibo from 1 subwave, one can state about its termination and possible transition to 3 subwave. The target for this subwave will be level of 0.00001146. Then we expect the beginning of the correctional wave 4.
The final trigger for the beginning of 3 subwave will be breaking through and fixing over the peak of the 1 subwave.
Trade closed: target reached

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