Here is DCR, just looking at some historical ranges and trend lines. I think DCR charts better in USD than BTC, and I don't think DCR has much correlation to BTC price movements, other than getting dragged down each time. However, BTC is still the boss of alts, so I like to see both USD and BTC pairs charted.
I think DCR is at a critical junction from a pure TA perspective. It could drop to $25 from here, but I also think it will hold the .006 trend against BTC. If the 2 are at all related, then BTC goes down in USD while DCR goes sideways in BTC terms, and down in USD terms. I think that possibility is likely, and it satisfies both charts pretty well.
I think most alts are tied to BTC movement, so fitting an alt to USD and BTC prices makes sense. I don't think BTC movement is tied to alt movement, so this is a difficult and very subjective analysis.
I like the Decred fundamentals and the stake/voting rewards make holding DCR a good long term option once it find the floor on USD terms. I think of it like a 4-week T-bill in a way.
I think DCR is at a critical junction from a pure TA perspective. It could drop to $25 from here, but I also think it will hold the .006 trend against BTC. If the 2 are at all related, then BTC goes down in USD while DCR goes sideways in BTC terms, and down in USD terms. I think that possibility is likely, and it satisfies both charts pretty well.
I think most alts are tied to BTC movement, so fitting an alt to USD and BTC prices makes sense. I don't think BTC movement is tied to alt movement, so this is a difficult and very subjective analysis.
I like the Decred fundamentals and the stake/voting rewards make holding DCR a good long term option once it find the floor on USD terms. I think of it like a 4-week T-bill in a way.
Trade active:
Followed the downtrend nicely, formed a U bottom and trying to find some resistance. Could be entering a longer term accumulation mode now. I like the $12 to $22 range for now, but looking for a capitulation wick related to BTC movement possibly down to $8 at some point before the next rally begins.