Dragonchain VS USD / BTC

On the above 3-day chart previous RSI resistance has now become support. Past price action resistance has also become support.

Stochastic RSI on the 4-day chart (not shown here) has now been oversold since mid-June and is now showing signs of crossing up the 20.

The bitcoin chart is very bullish. Bullish divergence on the golden ratio with a morning star candle confirmation following an oversold period (orange bar)! Does not get much better than that.

1-day USD chart - support on the 600-day (tiny red line, it is there!)

1-day BTC chart - bullish divergence

Comment:

2-day chart is indicating now is a good moment to go long.

Oversold condition (Orange column in RSI) with Stochastic RSI now crossing up 20. Price action has also just landed on the golden ratio.

Can price action fall further? Sure. However, the probable chance of upside now outweighs the risk of downside.

Comment:

Weekly chart ending with a something like a Dragonfly DOJI - will not know for sure until tomorrow. Should it remain, a very powerful move to the upside in the days & weeks ahead are very probable.

Comment:

In fact now that I see the 1-day chart... very bullish all of sudden.

1) Price action makes a higher low following oversold period (orange column).

2) Price action is on the 21-day moving average

3) Price action is in the bullish half of the Bollinger Band.

4) Bitcoin chart (bottom chart) - prints triple bullish engulfing candles!

Trade active:

3-day chart prints a nice bullish divergence set up.