We are starting our Vertcoin analysis on the one hour chart. By looking to the left, we can see that the latest horizontal price move has formed due to the price entering a support/resistance zone. It has formed after a motive bearish wave. Looking further back, we can see, that the latest bullish movement above the support/resistance zone, that is indicated with a blue line was probably a bullish correction after an impulsive bearish five wave structure. Because of that, we expect the next move to be bearish. Before it will form, the price must make a break out below the support/resistance line, and make a confirmation of this move.
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Feel free to grab a copy of our Free Weekly Market Outlook here:
mailchi.mp/bc78576d6...eweeklymarketoutlook
We wish you good luck with your trading!