VERGE (XVG): MACD is Coiled & Ready to Burst

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·@haejin·
0.000 HBD
VERGE (XVG): MACD is Coiled & Ready to Burst
<center>![](https://steemitimages.com/DQmWPk9pGawtxkJQ11KtjmsDaJ4Nnz84ggyRCdVJsq6f8TZ/image.png)</center>
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**SUMMARY**

I think Verge (XVG/USD) showed it's hands during the recent five wave impulse (blue). Its intent is not to crash but to rise in a trend reversal. The correction is likely not complete as shown by the red ABC waves. It'll probably be a case of A being longer than C; but wave C still must consist of five subwaves (white).

![](https://steemitimages.com/DQmVodH8EkEoastFBk4yZBLWjY2V1FgV7s3SSmcNwZZqFJh/image.png)


The long term remains unchanged. The contours of the price bars are still shaping out to be a rounded formation. IF this is correct and price adheres to the pattern, then blue wave 2 should complete next week so that blue wave 3 can commenced. The MACD is also suggesting that a large upsurge is coming given how its coiled and ready to burst.
![](https://steemitimages.com/DQmZKi56MSX19aUg8DtmYZ5FxcZrkMUjWKfVDr6fk67oAeA/image.png)







**Legal Disclaimer**: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes. </center>


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[Elliott Wave Counting Tutorial #1](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-1-by-haejin)
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[Elliott Wave Counting Tutorial #3](https://steemit.com/bitcoin/@haejin/elliott-wave-tutorial-iii-how-to-label-and-apply-triangle-price-corrections)
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