DESOUSD Bullish and bearish levels with the 1D MA50 supporting
Decentralized Social (DESOUSD) has caught my attention ever since the 99.500 Double Top on March 28. That was a rejection on the previous High of January 24 and ever since I've been waiting for a clearer set-up.
On April 09, the price stopped correcting and started to rebound (3 straight green 1D candles including today's) right before touching the 1D MA50 (blue trend-line). That is the first bullish sign in the past 2 weeks.
With the price on a Channel Down and the Lower Lows supporting, the bullish signal would be completed if DESO breaks above the Channel and the previous Lower High of 59.000. We'll treat that as an instant bullish break-out signal aimed at 99.500. On the other hand, a break below the Lower Lows will be treated as a bearish break-out signal targeting the 27.900 Support.
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On April 09, the price stopped correcting and started to rebound (3 straight green 1D candles including today's) right before touching the 1D MA50 (blue trend-line). That is the first bullish sign in the past 2 weeks.
With the price on a Channel Down and the Lower Lows supporting, the bullish signal would be completed if DESO breaks above the Channel and the previous Lower High of 59.000. We'll treat that as an instant bullish break-out signal aimed at 99.500. On the other hand, a break below the Lower Lows will be treated as a bearish break-out signal targeting the 27.900 Support.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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