Bitcoin is about to cross downtrend line from $19k hence is about to long term trend reversal. There is reverse dependence between DGD and Bitcoin prices as we can notice in historical charts, which can be confirmed in current drop from impulse move of DGD. Drop below the high of wave 3 (0.044 BTC) should confirm ABC correction and should fall to at least 50% fibo...
Quick TA on DGD. As we can see the top resistance has been hit twice, on the second attempt RSI is much lower. With a lower high now in play. Its safe to assume we are heading down. DGD has performed extremely well when ever the market begins to show bearish signs. As you can see from the previous bull runs. Each Bull run is followed by a quick correction....
consolidating in new price range. could run up to 62-64.
This is NOT financial advice, just a rookie having some fun lol Good Luck!
If bounces it off support could be another small breakout.
Hi. I just saw this and stopped my trade. this may be a SHS forming. It would make sense since we ended up to a level to form a perfect bowl in the daily. Or will it be a cup? It's still possible that the bowl is not finished, though. But I think we will first go direction 41000 anyway.
560-570 should be a good sell zone. then wait before returning to median or bottom off pitchfork range to buy more. If it falls out of trading range then look for better entry as usual.
Risk too high for long term investments. DGD needs to use Fib levels to find support if it wants to go lateral. Currently in downtrend.
DigixDAO (DGDBTC) is usually inversely correlated with BTCUSD: whenever Bitcoin drops, DigixDAO tends to raise and whenever BTCUSD raises, DigixDAO tends to drop. However, doing the past few days, in spite of BTC raising, DigixDAO has been increasing in price, gaining a market capitalization of over $ 1 billion and reaching rank #26 on CoinMarketCap.com, a little...
We'll see how long this lasts. Some other DGDBTC charts that I really like (Be sure to click on them and hit play.):
Someone posted something similar, so I took a closer look. Earlier, I posted a daily version of the chart, this the hourly.
Someone posted something similar earlier, so I had to take a closer look.
could continue trend still. Nice short term reversal on bottom trend line. Red line is for stop loss in case price action falls out of range
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!