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AlanSantana
Nov 2, 2019 1:40 AM

Decred Overview & Chart Analysis (Starting To Move) 

Decred / BitcoinBinance

Description

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.

Namaste.

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%)
Comments
TheLiZArDD
Thanks Alan!
Decred is really a good crypto with a super active team.
AlanSantana
@TheLiZArDD, My pleasure.

Thanks for the comment and support. :)

Namaste.
Tivra
It's not correct to say it's a Bitcoin fork though.
AlanSantana
@Tivra, I got the overview from CoinmarketCap.
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