Looking at the 4-hour chart, DGD appears to be due for a breakout soon. It's oversold on the RSI, approaching support on the MACD, and finds itself in falling wedge close to completion. I'll be looking for buyer volume as it nears the bottom boundary of the wedge to push the price up and out of the pattern. It is one of the few alts that has yet to see a jump in price since the alt market's positive movement in recent weeks. I'll be keeping an eye out for the break out.
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jpbrown1023
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As you can see from the chart, the volume was very unimpressive. All the indicators look good, DGD just needs volume to get the price moving. It has worked inversely to BTC in the past, so it may be waiting for a correction to jump.
jpbrown1023
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@jpbrown1023, DGD is definitely waiting for a BTC correction.
jpbrown1023
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Confirmed breakout, but the volume isn't what I was hoping for. Last thing I want is the price to retreat back into the wedge. Let's hope we rally with some nice buy volume.
KhrnoT
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Volume on DGD is getting weak.
jpbrown1023
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@KhrnoT, Very true. The price is getting squeezed at the moment, but periods of low volatility are often met with sudden periods of high volatility. Volume is the key to this breakout.
jpbrown1023
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Looking good at the moment. Price really hasn't moved the last 3 days and periods of low volatility are often met with sudden high periods of volatility. Look for a spike in volume. Bullish divergence on the MACD and RSI with a bullish MACD crossover at support... I like what I see.
Trueee
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Where are you targeting for TP?
jpbrown1023
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@Trueee, I'm using previous resistance and wedge height to determine the target price