A head and shoulders top pattern
consists of three successive peaks: The
middle peak, or head, is the highest
and the two outside peaks, or shoulders,
are lower at roughly the same
level as each other. Connecting the reaction
lows of each peak forms a level
of support, also called the neckline.
In order for the head and shoulders
top pattern to be a...
Greetings! DGD is set for a MASSIVE RUN. Cup and handle breakout, falling wedge breakout, volume and btc going down. The chart speaks for itself. Target price of .069 Sell a little lower if you want to be conservative and not greedy LOL. Please like and follow. If I you want to reward me for the direction PLEASE s3nd eth 0xc61ff67ed15dba2590c8b9b80ce6700e9a4784bd,...
If you haven't noticed it already but DigixDAO, DGD/BTC is back!
As I have discussed in my previous posts about the "imperfect" inverse relationship of DGD/BTC vs BTC/USD and the trading opportunity that goes with it.
To a certain extent, it has shown to move rather inversely compare to Bitcoin prices but it has shown that it's definitely not a perfect hedge...
Despite the downward trend in the market as a whole DGD has not fallen like the major currencies.
This Modified Schiff pitchfork captures the price movement for the last several weeks.
In the past few days price has ascended the downtrending line and held above them. Resistance has become support.
In this bear market I am very wary and I will look for a bounce in...
DGD looking bullish again after making a nice ABC correction and then breaking through a perfect inverse head and shoulders pattern.
Now it is consolidating right above new support after a nice little volume spike. Good possibility of continuing this new uptrend
Trend line @ .044616 satoshi. Also, conveniently lines up with the .618 Fib line, which the price just broke below and is now hovering in the upper .5 zone.
Price looks like it will drop below the upward white trend line and continue towards the lower .5 Fib range before bouncing back up.
Hoping for a break upwards, but doesn't look like that would happen until...
To those of you who do not know, DGD has an inverse correlation with Bitcoin and it is the only coin i know of that exhibits this behavior (if you know another please let me know). This means that when BTC goes down DGD goes up and vice versa and these are not minor runs these are huge runs making this trading pair the most volatile I've seen which is why I love...
Bitcoin is having a bit of a down day today. If you want to hedge/protect against or even profit from a drop in BTC, especially if you pair trade with BTC pair trading, then one of the best ways to do that without having to go short or margin trade BTC is by trading DGD/BTC.
As I've stated previously in my previous post about the inverse relationship of BTC/USD...
We are not bullish on this one as we were yesterday, we would like to expect 24 hours more to see if this is just a consolidation fase in which we could reinforce our position or just wait a sell off. Thanks for your comments. You will be able to find us here soon
Most of the top 100 altcoins are in green momentum and we expect a good support for DGD too at the current level. We will be taking a long position with 10% of our current portfolio if the trend cotinues in next hours.
My trade last night in retrospect could have been better. My sell target was too ambitious given the amount of room left to grow in this pitchfork. It could have been a good scalp between 55 and 57, but nothing more.
That being said the mid term outlook for this token is still good.
The price action is still moving well within the pitchfork and we can expect it...
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...
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...