AlanSantana

DAI Project Overview & Chart Analysis

Long
BITTREX:DAIBTC   DAI / Bitcoin
- Here we have good consolidation, good volume coming in and prices moving above EMA10 (green line on the chart).

- The "moving above EMA10" signal is only confirmed when the weekly candle closes, which is after Sunday. If prices move and close below EMA10 weekly you can disregard this signal as it is invalidated.
When the signal is yet to be confirmed, we call it an "early signal". This is one of those.

- We also have a Falling Wedge pattern. Both trendlines , candle close and wick, are now being conquered. (The are bullish signals of course)

-The RSI is strong above 44... Remember that we are looking at the weekly timeframe , above 30 is good here.
When we look at the daily timeframe , we look for an RSI above 40 to consider it good and above 50 to consider it strong/ bullish .

-Finally, we have the MACD which is printing bullish cross coming out of the lows and the histogram just printed the first green bar... This can easily lead to higher prices:
This one is a stablecoin so it is also good if you just want to park some money there... Same as with Paxos Standard.
If the BTC pair goes low, you can always cash out your initial value through the USD pair.

This is not financial advice.
Remember to do your own research and build your own plan before you trade.

Namaste.
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NiceIdea
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