Before going to the chart i want you to do one simple thing. go to the DAY chart of DGD/BTC. you will see that allthrough the bear market, this security has managed to be on a CONTINUOUS uptrend!!!
now looking at the 4h chart, we can see that it has recently went into a new uptrend EXACTLY when bitcoin's hard supports gave out.
we could have assumed that this will continue to rise as bitcoin seems to be in free fall. but the BIG problem is the ascending wedge that has formed right here in my chart. which indicates to bearish price movement. and as i write this piercing through the white ascending support line.
now hear me out and go check my bitcoin chart. i've stated that it is forming a bullish wedge and will breakout of that.
so, if bitcoin goes up, the ascending wedge should still be in play!
BUT!
if bitcoin continues go down, there is a high possibility that the ascending wedge MIGHT even be BULLISH. moreover, even if it is piercing through support right now, it CAN STILL get up above on a uptrendline due to the negative co-relation i have been looking at for atleast 2-3 months.
you can draw a line on the 20ema line ( blue ) and set an alarm to see what the price action does there AND ALSO check bitcoin simultaneously. if you see bitcoin in a negative spot, and dgd holding 20ema, YOU HAVE GOT YOURSELF A TREAT!
keep a close eye on bitcoin. and if you want to USDT it when gives out support, take a look at the dgd chart asap. if you see it doing well, CONSIDER DGD instead of USDT. just CONSIDER!
I will try on giving short term movements if i get enough likes, so please! leave a like if you like my idea. and be sure to keep to check out my idea on bitcoin!
feel free to criticize as im not a professional. i actually want to be criticized because i want to learn more.
im a youngster from southeast asia trying to make a living off of market analytics (just getting started though) so any help is appreciated
BTC -5.49% donation public address : 1HUZH4PExh2JfTAX1hZuoioe6Dvt8ANnxw
now looking at the 4h chart, we can see that it has recently went into a new uptrend EXACTLY when bitcoin's hard supports gave out.
we could have assumed that this will continue to rise as bitcoin seems to be in free fall. but the BIG problem is the ascending wedge that has formed right here in my chart. which indicates to bearish price movement. and as i write this piercing through the white ascending support line.
now hear me out and go check my bitcoin chart. i've stated that it is forming a bullish wedge and will breakout of that.
so, if bitcoin goes up, the ascending wedge should still be in play!
BUT!
if bitcoin continues go down, there is a high possibility that the ascending wedge MIGHT even be BULLISH. moreover, even if it is piercing through support right now, it CAN STILL get up above on a uptrendline due to the negative co-relation i have been looking at for atleast 2-3 months.
you can draw a line on the 20ema line ( blue ) and set an alarm to see what the price action does there AND ALSO check bitcoin simultaneously. if you see bitcoin in a negative spot, and dgd holding 20ema, YOU HAVE GOT YOURSELF A TREAT!
keep a close eye on bitcoin. and if you want to USDT it when gives out support, take a look at the dgd chart asap. if you see it doing well, CONSIDER DGD instead of USDT. just CONSIDER!
I will try on giving short term movements if i get enough likes, so please! leave a like if you like my idea. and be sure to keep to check out my idea on bitcoin!
feel free to criticize as im not a professional. i actually want to be criticized because i want to learn more.
im a youngster from southeast asia trying to make a living off of market analytics (just getting started though) so any help is appreciated
BTC -5.49% donation public address : 1HUZH4PExh2JfTAX1hZuoioe6Dvt8ANnxw
if it does give out, that renders most altcoin TA's useless
EXCEPT! DGD!
SO? whats your best shot? dont wanna usdt?
maybe try trading this beautiful descending wedge! happy trading!