When Tether got slapped, DGD took over. And it's much more volatile.
i think that dgd/btc price corelated with mirror btc/usdt on binance yellow-black bar - dgd/btc price green-red bar -btc/usdt blue -dgd-usdt price It is necessary to impose a graph of dgd/btc &dgd/usdt on btc when btc price down buy dgd, instead of going into the fiat and take profit! when btc price grows up hold or sell depending on the price behavior of dgd in dollars
In an earlier post i detailed DGD following a nice upward channel trend. Looks like it was not quite steep enough so ive adjusted it here. Should provide some insight as to when the trend should reverse short term. good for collecting extra DGD if your already holding.
DGD is a coin based on gold, so the price is stable, compare to btc. Thus, when BTC goes down, DGD and USDT are the best plays for everybody. By looking at the chart, we can see the opposite pattern of the price between BTC and DGD. So whenever BTC goes down, throw all your money into DGD.
When Tether became questionable, DGD is now the new Tether!
This is just what I am looking at. Since I am a newbie, all opinions are welcome.
It's my first time to share an idea, may you can call it the first result of new student here This BINANCE:DGDBTC as the chart showing have a very good opportunity to run high in small period The targets as shown in fib lines, so keep an eye on it once it explode outside the triangle to catch the rocket before it's launch. Happy safe trading all.
I used an approximate 50% from the last down trend to start the tail of the pitchfork. If the second peak reverses around the upper limits of the fork it will confirm it.
DGD is running inverse of BTC. It's equivalent of shorting BTC, and it's about to explode!
The graph above shows a comparison line chart between DGD (DigixDAO) vs BTC over the last 30 days. As you can see the correlation between the two is quite significant. It's not a -1 inverse correlation against Bitcoin so it's by no means a perfect hedge against a drop of BTC but good enough to trade on we think. To test this "theory", we thought lets put on...
When BTC spikes and drops in value many coins suffer and never recover. DigixDAO's purchasing power continues at a steady rate regardless of December's BTC peak and responded inversely to BTC's crash in early january and late February.
DGD has 3/4 signals Bullish. Waiting on the Bullish TK Cross which if it happens in bullish territory is a very strong signal. Clouds are very thin so if we don't see much momentum then could easily plunge back under. Below average volume for this hour and middle of the road RSI could help push this up if we see some good buy volume.
DGD seems interesting atm. I was gonna post this 15 mins earlier but there was an issue with my ISP. Technically it touched the slim box, but go easy on this, there is no DIV to confirm a reversal. Volume is slowly rising though.
Red line is support, other lines below are stronger.
BINANCE:DGDBTC is reaching the end of its descending triangle. So a subsequent breakdown/out is to be expected shortly (next few hours).