On the 25 of October, Decred finally managed to break above the triangle pattern, and at the same time went above the 200 Moving Average. This was the first sign of a potential beginning of a long-term uptrend continuation.
After the breakout, it corrected down and rejected the uptrend trendline two times, after which it went above both the downtrend trendline and the 200 MA. Today it broke above the previous resistance at $37 and this is the second sign of an emerging wave up.
There is only one price target where two Fibonacci retracement levels meet at the same spot. 261.8% and 661.8% levels are exactly at the same price, at $116. This appears to be a key resistance and a potential upside target for DCR/USD. If it will be reached, Decred would more than triple in value, while moving from the current price $37.
At this point only break below the $20 psychological support could invalidate this outlook, but at currently, the rend is very bullish.
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Stop loss on breakeven, 0 risk trade
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Decred Is My Top Choice At The Moment
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Still expecting strong growth, another wave up should be on its' way.
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Bought more Decred, it is looking good
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Decred getting close to the target
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Current wave up should bring it to the target and probably above
I think 120 is still cheap in compare with other coins.
Decred is a strong coin .
However 120 is very good in mid term.
Great analyse
CryptoPAMM
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@ahmad0, well most altcoins is cheaper than dirt now, if we talk about longer term price, but my aim is fast profit and then move to the next one, this way performance is much better than hold and wait approach
ahmad0
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@hitech, Indeed.
I'm following you in telegram and also visit your website regulary.
Keep it up!