DCRBTC (Decred) has been staying above EMA300 for several days now and bullish momentum is building up... This is it, this might be the good one. There have been multiple attempts at higher prices with little success but now that EMA300 is a thing of the past, a level that has been challenged since early December finally breaks, we can see a strong impulse move...
Not advice - I'm a noob practicing. Looks like a clear path forward - could break downwards but everything else appears bullish - 100%+ gains
DYOR - I'm a noob practicing TA - not investment advice. In my opinion - this looks like one of the most promising altcoin charts vs BTC. Trading sideway for 2+ week - squeezing into this long term wedge with a long term downtrend. McGinley Dynamic also confirms this uptrend since November and staying strong. Wish I had turned on my trading bot on this pair...
DCR chart look awesome, these are the targets: Targets: Target 1: 0.0032 Target 2: 0.0050 Target 3: 0.06
Decred (DCRBTC) continues to be strong ever since the November low was hit. We've been having very solid consolidation near resistance while other altcoins continue to crash and hit lower. This one remained stable while Bitcoin continued to grow. This is a good signal. Here is the previous analysis from early December (sideways = strength) And from early...
Decred is one day away from solidifying a bullish morning star pattern on 6 month candles.
from my old chart, i missed entering around 14 but whatever, anyway, ill get in on dips, this should move up quite a bit
ℹ️Reasons to buy: ✅96% drop from ATH; ✅Fundamentally strong project; ✅Downtrend breakout
Decred has managed to form a trading range which makes me much less bearish than before. As long as we can remain in this trading range there's a setup for an end-to-end to pop us back into the 0.0017's.
Here's an update on that falling wedge I posted earlier about. Looks like it head faked down and then reversed back up to confirm the breakout, sending us into a short term trend reversal. $DCR $DCRBTC #decred
Decred has had a drawn out retracement almost back to the starting line. It's currently forming a descending wedge which could be set up for a reversal. The setup would be a breakout of the falling wedge forming the right shoulder of an inverse H&S setup which would propel us back to retest local highs.
Coming into the final phase which is the most exciting one. Markup.
Monthly DCR/USD MACD just flipped green for the first time ever. If it can hold onto this until the monthly close sets it in stone, it would be a strong signal of the beginning of a sustained trend change.
Decred has been ripped back and forth for the past year. If we zoom out we can see evidence of a macro inverse H&S forming on the daily though. The shoulder line looks clean and the volume is trending steadily downward after the head has formed. With all of the bullish news right around the corner (Decentralized treasury, atomic swap DEX, DCR Lightning Network,...
Decred about to pull of an end-to-end with a price target of $90
I've revised my previous wyckoff analysis on Decred. It's looking like a hybrid of the two popular schematics.
DCR Decred 4H Channel - DCRBTC DCRUSDT DCRUSD DCR BITCOIN dcrbnb