On the USD pair (left) three breakout attempts including current can be identified, the current one presents a nice bullflag to buy into on this daily timeframe
I dont have much to say about the BTC pair
You can see multilevel support around the current price levels. Probably the price drop will be held at the level 2.36 - 2.51 USD. You could consider a speculative long entry, but this is only speculative. We don't know if the multilevel support holds or not. It depends probably mainly upon Bitcoin - if BTC makes dead cat bounce DFI will raise as well.
The lack of significant volume makes it difficult in DFI to apply proper technical analysis. But so far, it looks like it could make another pump soon if resolving this triangle to the upside.
DeFiChain (DFI) hold strong volume support - several times now.
A break below that volume level would be a bad sign - everything above allows thoughts of higher courses.
A confirmed breakout of the OBV resistance would be a very strong bullish signal 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*no...
From a purely technical standpoint - this chart pattern is bullish. If you ignore the ugly spike on November 11th, this is a nice symmetric triangle which, as it occurs in a bullish trend, is more likely to get resolved to the upside.
Of course, it all depends on what BTC is doing, but the likelyhood that the trend will continue in the 1st half of next week is a...
Not financial advice
"Losing is a only a luxury of learning the experience"
Legalizedhustler
Entered new channel.
DFI has been in a super consolidation now for a while.
Head and shoulders and now the 5th wave
100% return can be seen from here as long as King BTC stays somewhat stable.
Entry point and resistances marked.
Could be some nice gains here.
Leave your...
Technical analysis for DFI USD using the near term group of time frames (1D, 2D, 3D, 4D) as a compass and the short term group of time frames (90 min, 3H, 6H, 12H) for more precise entry and exit using the Phoenix Ascending indicators and Bad Ass Bollinger Bands, which are publicly available. Please see video publications by David Ward @WykoffMode for an education...
Defichain seems to be positioning itsself for a move up. If the triangle breaks upwards and retests the current resistance, my target for $DFI will be $3,60
