Decred
Monthly candles still within the symmetric wedgeZooming out, the monthly candles are still within the symmetric wedge, but the volume just isn't there.
Decred team hired a new PR firm (Ditto), with their Proposal System. If they have have news coming out soon, perhaps the long-awaited Privacy release, it could bounce.
I remain hopeful for this project because there's many things that set it apart from the bunch, but unfortunately, the volume and price action isn't good.
We would need a catalyzing event now.
Decred Looking Very Promising One of my favorite coins in the crypto space = Decred. Built from the btcd Bitcoin node implementation, the coin was created in 2016 as an alternative option to Bitcoin. Known as the first (and one of the only) true hybrid consensus algo coins, Decred was a game changer when they first popped on the scene.
Now granted, they have not reached the same market cap as some of the more recent coins in existence, like Tezos; Decred is proven tech. We won’t get too deep into what Decred does, but let’s go ahead and take a look at the price action on the coin and see what conclusions we can come to here.
Now, at first glance, the chart above may seem a bit intimidating but let us explain:
1. The blue lines that you see on the chart above are support and resistance points.
2. If there is a blue line that is above the price, then it is a resistance point.
3. If the blue line is below where the price is, then it is a support point.
4. The red boxes are all of the different times that the price has ‘bounced’ off of one of the support/resistance points.
5. Support/resistance points are able to change at will. For example, if a price manages to cross above a resistance point, then that resistance point will become a support until the price breaks south of it once more; at which point, it would become a resistance point once again.
We made sure to put all of those points on a chart for you as well, so that you can integrate the points above with a visual a little easier:
Now let’s zoom in a bit to get a better idea of the price action on Decred $DCR
There are a few observations that we should make here:
The underlying support for Decred on the daily resolution is extraordinarily well-tested, making it an extremely reliable indicator of impending bounces for Decred’s future price action.
Of course, this is important because the price at the time of writing is currently nudging against said support line. Also, common logic and trading convention tells us that a point/zone being well-tested without the price actually breaking through is indicative of that area’s strength (in terms of support or resistance).
Therefore, we can trust this resistance with relative confidence. Especially when considering the fact that there is a support that is just a tad bit lower than where Decred is currently.
Now, let’s check on where the overhead resistance would lie at:
Relative Strength Index(14)
The RSI(14) isn’t really telling us any crazy information at this point in time, but its definitely something that’s worth paying attention to though.
Balance of Power RSI
Balance of Power RSI here is fairly ambiguous as well. What we can detect though is that there appears to be a recent increase in accumulation, which does diverge (positively) with the price action.
We outlined this most recent portion of Decred via a trendline graphic on TradingView at the end of the chart.
Everything there is to say about the Ichimoku for Decred has been said in the chart above.
So, let’s move on to the Fibonacci Levels (Fixed; Preset this time)
Fibonacci Levels
Zerononcense Reversion Ribbon V2 for Decred
Conclusion
Decred is something that could really bust out of the recent rut that its been in.
For that reason, we have a definitive R/R in mind for $DCR.
Disclaimer: This is not trading/investment advice. This idea was not created by someone that has any type of holding in Decred or any of its competitors.
DCR/BTC decisive moment: we touches an important trendlineDCR/BTC is at a crucial moment, touching a long-term trendline.
If we bounce off of this point, there's an opportunity of finally seeing DCR gaining momentum.
I was waiting for us to get to this point for a long time.
Cautiously Optimistic About Long-Term Prospect of DCR/BTCDecred's Politeia system released these days, which is great fundamental news.
The volume remains low, unfortunately, and this is the main reason for my reserved optimism.
Technically, we're in the area of a major support trendline so that does look good, coupled with the great fundamentals (more releases coming soon, like privacy).
I'm watching this and holding but things are to be determined. While the volume is so slow, I expect it to stagnate and go sideways - but this could change as we approach the trendline.
DCR touches crucial long-term trendlineThis is a decisive moment as DCR/BTC touches the big one, the massive trendline that is its lifeline
This could be the chance DCR has been waiting for.
Decred volume skyrocketed after Binance listing announcementLast night Binance has announced a new coin that will be listed on the exchange. The chosen coin was Decred (DCR), that will be added on the 24th of October, that is tomorrow.
Here is the twit: twitter.com
Right after the news price started to move up as well as the trade volume. Trade volume went crazy, and has reached $9,000,000 from just $850,000. This is over x10 times increase in volume, resulting in a 33% gain in less than 24h period. Such rise has made
Decred a top 1 gainer from the top 100 coins in the coinmarketcap.com. Most trade volume came from Bittrex and Huobi, but perhaps it will be shared equally with Binance, once DCR will be added to their listings.
All-in-all, the market reaction has been extremely positive on these news. At the same time RSI oscillator showing that Decred is overbought, which could result in a correction down especially after such a strong pump.
The upper trend line of the ascending channel has been reached, but not broken, along with the 38.2% Fibonacci retracement - a $50 physiological resistance.
If/when todays’ high at $52.4 will be taken out, next stop seems to be $60. Not only this is the next physiological resistance but also an important Fibonacci retracement level - 61.8%. On the way up there is one more obstacle that should not be ignored, that is 50% fibs at $55.
Currently, further price increase by Decred is a doubtful scenario, while it could have performed a simple pump and dump maneuver, rather than a healthy demand. DCR/USD might need some time to “think” as to what to do next. Either a correction down to $40 area and then consolidation or a break above the recent high, targeting $60 and beyond? Hopefully, DCR will reveal the plan soon.
Support:
$43
$38
$33
Resistance:
$50
$55
$60
DCR Next Move 150% !!For Long Term Holder Very Good Opportunity DCR .
Buy 0.005600
Sell 0.013000
Let See , What Will be Next Move.
Share Your Opinion in Comments.
if You Satisfied With My idea Then Dont Forgot To Hit Like.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
DCR may not be that bad as it looksJust in case you haven't seen below is Decred chart from Bittrex. I had many SR lines there, that made it look dirty, so I hidden them. But there were also cycles and I can tell you that now is the beginning of a new one.
Here at Binance at smaller timeframe we have a breakout of descending triangle and possible reverse of a trend (just very very begining). Price might not start growing too far just now but in long term it may climd an impressive mountain.
Decred Long - Back to Pre Binance Pump Levels- Decred looks pretty good here
- Targets labeled...
- Stop under diagonal
There is a trading opportunity to buy in DCRUSDTechnical analysis:
. DECRED/USDollar is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (39.00 to 31.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (39.00)
Ending of entry zone (31.00)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 54.58
TP2= @ 58.52
TP3= @ 72.15
TP4= @ 83.18
TP5= @ 94.32
TP6= @ 110.07
TP7= @ 130.05
TP8= Free
There is a trading opportunity to buy in DCRUSDTechnical analysis:
. DECRED/USDollar is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (39.00 to 31.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (39.00)
Ending of entry zone (31.00)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 54.58
TP2= @ 58.52
TP3= @ 72.15
TP4= @ 83.18
TP5= @ 94.32
TP6= @ 110.07
TP7= @ 130.05
TP8= Free
DCR Broken Downtrend - Going up.DCR just broke it's very short lived downtrend after being listed on Binance.
DCR listing on Binance - Support found - Lets take this puppy UPStochastics, clouds, MTF RSI, and the Mode of God are all giving the same signals and signs that this will keep grinding higher. DCR is not just any old project. It holds its weight through bearish times, and now hey, its coming to light during a bullish time! YAY. I expect an edge to edge KUMO grabbing 12% for this first impulsive move off the found support. Targets are in the box.
Namnaste'
Decred (DCRBTC) Going On Binance (Get Ready!)Decred (DCRBTC) will be listed on Binance. This will happen tomorrow.
"Binance will open trading for DCR/BNB and DCR/BTC trading pairs at 2018/10/24 04:00 AM (UTC). Users can now start depositing DCR in preparation for trading."
Source: support.binance.com
On the chart:
- We already have a huge green candle.
- The RSI is super bullish. Everything will turn bullish.
- This coin will explode as soon as it is added to Binance (as it usually happens).
- Targets on chart.
Thanks a lot for the support.
Please like, share, comment and follow to keep this trade idea updated.
Namaste.
A trading opportunity to buy in DCRBTCTechnical analysis:
. DECRED/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00594 to 0.00540). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00594)
Ending of entry zone (0.00540)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00694
TP2= @ 0.00728
TP3= @ 0.00801
TP4= @ 0.00854
TP5= @ 0.00970
TP6= @ 0.01117
TP7= @ 0.01230
TP8= @ 0.01454
TP9= @ 0.01773
TP10= @ 0.02179
TP11= Free
A trading opportunity to buy in DCRBTCTechnical analysis:
. DECRED/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00594 to 0.00540). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00594)
Ending of entry zone (0.00540)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00694
TP2= @ 0.00728
TP3= @ 0.00801
TP4= @ 0.00854
TP5= @ 0.00970
TP6= @ 0.01117
TP7= @ 0.01230
TP8= @ 0.01454
TP9= @ 0.01773
TP10= @ 0.02179
TP11= Free
