Short
DGD LOSING MOMENTUM? POSSIBLE HEAD & SHOULDERS FORMING

DGDBTC has had a nice run up recently.
However it looks like the 1h chart is forming a Head and Shoulders pattern.
Volume is taking a nosedive, it's very oversold RSI bouncing off 70, and MACD is on the verge of crossing again, showing bearish signs.
Will buy back in around .5 fib to sell at the potential right shoulder.
However it looks like the 1h chart is forming a Head and Shoulders pattern.
Volume is taking a nosedive, it's very oversold RSI bouncing off 70, and MACD is on the verge of crossing again, showing bearish signs.
Will buy back in around .5 fib to sell at the potential right shoulder.
Note
Although the Head and shoulder didn't form, it did go back down to my buy in range of .5 fib. Closed my trade around .786Note
walked away nearly 13% profitDisclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.