CryptoCubic
Long

Decred VS Bitcoin Long Term Uptrend is Valid

POLONIEX:DCRBTC   Decred / Bitcoin
Since 8th of December 2017, Decred has established an uptrend, while price continues to produce higher highs and higher lows. On the 15th of June DCR/ BTC reached the btc 0.015 level and then correction down started.

Decred approaching 76.4% Fibonacci retracement level, which could be the bottom of this corrective wave down. Since the uptrend is valid, buying opportunity has already presented itself, but at the same time DCR could go slightly lower.

While Decred stays above the btc 0.0084 support, uptrend will remain valid and the next wave up could bring the price up to the btc 0.032 resistance area , which is a potential 260% growth against the Bitcoin .

But break below the btc 0.0084 support might send price lower, towards btc 0.0056 area, and only then continue the uptrend. Only break and close below the btc 0.0056 support could invalidate long term uptrend, where range trading could start.

Comments

hey are u using EW theory in the analysis?
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