XVG performin bullish pattern
Verge is set to open new bullish run once it will break up from symmetrical triangle as shown on 1H chart.
The symmetrical triangle usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. It is similar to contracting wedge, wide at the beginning and narrowing over time.
Only when XVG fails to break up from triangle, we could argue that bullish run is over here.
The symmetrical triangle usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. It is similar to contracting wedge, wide at the beginning and narrowing over time.
Only when XVG fails to break up from triangle, we could argue that bullish run is over here.
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