ASX: DCC possible 14% depending on BTCPossible quick 14% gains to be had short term on DCC with tight stop losses
Possibly will hit 5c for a retest then who knows... stop loss
the trend is your friend!
Be tight with stop losses, and if BTC tanks, dump DCC. If you were to keep stop losses tight a 14% move seems likely depending on BTC of course.
Not financial advice.
DCC trade ideas
What are you doing, DCC. DigitalX continues to frustrate after I jumped in at 6c expecting a rally.
With Bitcoin at ATH area, DCC continues to show no sign of rallying, dropping through 6c Support. If it doesn't catch at this range, I anticipate 5c-sub 5c range as shown on chart.
How a company that is a digital asset funds management business share price fall while the very asset it supports is soaring is beyond my comprehension.
I will continue to watch and wait for Support to be found.. hopefully at this 6c level
RSI showing oversold and potentially double-bottoming, and little volume supporting this long drawn out dump. We shall have to wait and see what the market reveals is the next move.
Open to discussion and thoughts as always.
5x Crypto Miner ASX Trade IdeaRegaining the 200D MA after a slow bleed may signal the over-extended first wave has been flushed out. DYODD.
I have a position @~.81 which may show that I have been following this for some time.
This could be a 5x, but will monitor the connection and correction at the top of the monthly channel for weakness/follow through.
Just an idea, not advice, crypto can be volatile to both sides.
Huge upside potential ?As we see on fixed range volume profile, most of the trading happened between 3c to 10c range with very low volume from 10c to 43c. So its trading at 9.3c currently which is at high end of reasonable range.
If you see volume profile at the bottom with orange line it shows that every time when it goes up the volume picks up but while sell of volume remains very low. This shows that profit taking occurs with still holding big numbers of shares.
Since beginning of October it has remained above 10 ema for 12 weeks making 224% to recent highs. It is currently retracing but still about 1c away from 10 ema.
It has just worked out the overbought rsi with correction in price and time.
So i am putting an alert on 10ema weekly for entry signal. Will check smaller timeframes for confirmation if the trend is intact.
Please share your views about this.
thanks
DCC - watch the wedgeDCC back to long term trend support and in an ever decreasing falling wedge. RSI has rebounded well, and MACD looking for a firm cross on the 4 hour and daily.
Previously fell to the large 88.6% fib support, and since the last rally fell again to the 88.6% retracement.
Looking for a bounce here and break of the wedge.
DCC bearish, broken a potential bullish signalBroke descending wedge which would have been a bullish indicator. DCC passed last support bounce line and looks like it will continue to go down to 13.5c and possibly lower. I'm not factoring the oversold RSI as fundamentally this stock is in danger due to total market sentiment towards crypto.
I will not touch this for a while and will be staring on the sidelines.
DCC ShortBroke descending wedge which would have been a bullish indicator. DCC passed last support bounce line and looks like it will continue to go down to 13.5c and possibly lower. I'm not factoring the oversold RSI as fundamentally this stock is in danger due to total market sentiment towards crypto. I would not be buying anytime soon and would be selling if I hadn't already.