Hi All, Another bullish formation, a uptrend, a pause for a consolidation and as we see, a bull flag of some nature, here I have a triangle of some sort with the ABCD and Point E looking completed. Yes, it would have been better to get it prior the breakout at $57 or even lower, but its still gives you plenty for the next few stages. PS. I like using the...
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...
Decred broke out of the descending channel, and is now ready to move higher against BTC.
Accumulate, you fools! Before it's too late!! BINANCE:DCRBTC
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.
Over the past 2 weeks volume profile changed into more stable support base with resistance; revealing force pushing at 131-125 back to 140.
Start heading towards center of monthly volume at 109 Considering possible scenario to smash into the 0.00090 level.
Possible break through at 127 down to 110
Retracing back to re-test the 130-support.
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.