DAG / USDT Three possible LT Paths
DAG is approaching the heavy supply zone that served as major resistance during the previous breakout.
If bitcoin plays nice(big if, rate of change bitcoin =< DAG's), we can see it break through to the next supply zone (highest purple bar) . It will certainly get rejected, causing a cup and handle (blue and yellow). The yellow path would time the RSI perfectly with its current oversold RSI. But this is crypto, so who knows .
If it gets rejected here, it will retest the previous resistance, creating an inverse head and shoulders.
Short term unknown, long term bullish.
If bitcoin plays nice(big if, rate of change bitcoin =< DAG's), we can see it break through to the next supply zone (highest purple bar) . It will certainly get rejected, causing a cup and handle (blue and yellow). The yellow path would time the RSI perfectly with its current oversold RSI. But this is crypto, so who knows .
If it gets rejected here, it will retest the previous resistance, creating an inverse head and shoulders.
Short term unknown, long term bullish.
Trade active:
DAG decided to take the yellow route, almost to a t. Respecting the previous resistance now turned support. RSI still in an uptrend.
I would expect the second line to hold this time around after it breaks through.
I would expect the second line to hold this time around after it breaks through.
