Decred Overview & Chart Analysis (Starting To Move)

BINANCE:DCRBTC   Decred / Bitcoin
Decred (DCR) Overview

Decred (DCR) is an open-source, Bitcoin fork that places emphasis on development funding, on-chain governance, and consensus mechanisms.

Launched in Feb 2016 by the Bitcoin developers behind btcsuite (an alternative full-node Bitcoin implementation written in Go (golang), Decred successfully orchestrated an on-chain user-activated consensus vote, which is emblematic of the project's emphasis on community-driven stakeholder governance. Other features of the project include a hybrid proof-of-work (PoW) proof-of-stake ( PoS ) consensus voting system, a public proposal platform, smart contracts, cross-chain atomic swaps, and cross-platform wallets.

Now let's take a look at the daily timeframe chart for DCRBTC:
  • Here we have a broken downtrend line (red dotted).
  • We can see big volume and EMA50 rejecting the growth. That's the level to break for DCRBTC to move higher (so you see a green arrow above it).
  • There is a bullish divergence with the MACD .
  • The RSI hit ~18 recently, very low, and is now strong/ bullish above 50.
  • DCRBTC is trading above EMA10 (green line) which tells us that it has bullish potential.

Additional details can be found on the chart.

Comment: Our first target has been hit.
Enjoy the profits.

1) 0.002240 |Hit 3-Nov. (+18%)
Comment: Targets:

1) 0.002240 |Hit 3-Nov. (+18%)
2) 0.002440 |Hit 3-Nov. (+29%)
Comment: Targets:

1) 0.002240 |Hit 3-Nov. (+18%)
2) 0.002440 |Hit 3-Nov. (+29%)
3) 0.002700 |Hit 11-Nov. (+43%)
*) 0.002892 | Hit 15-Nov. (+53%)

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