Decred Looking Very Promising One of my favorite coins in the crypto space = Decred. Built from the btcd Bitcoin node implementation, the coin was created in 2016 as an alternative option to Bitcoin. Known as the first (and one of the only) true hybrid consensus algo coins, Decred was a game changer when they first popped on the scene.
Now granted, they have not reached the same market cap as some of the more recent coins in existence, like Tezos; Decred is proven tech. We won’t get too deep into what Decred does, but let’s go ahead and take a look at the price action on the coin and see what conclusions we can come to here.
Now, at first glance, the chart above may seem a bit intimidating but let us explain:
1. The blue lines that you see on the chart above are support and resistance points.
2. If there is a blue line that is above the price, then it is a resistance point.
3. If the blue line is below where the price is, then it is a support point.
4. The red boxes are all of the different times that the price has ‘bounced’ off of one of the support/resistance points.
5. Support/resistance points are able to change at will. For example, if a price manages to cross above a resistance point, then that resistance point will become a support until the price breaks south of it once more; at which point, it would become a resistance point once again.
We made sure to put all of those points on a chart for you as well, so that you can integrate the points above with a visual a little easier:
Now let’s zoom in a bit to get a better idea of the price action on Decred $DCR
There are a few observations that we should make here:
The underlying support for Decred on the daily resolution is extraordinarily well-tested, making it an extremely reliable indicator of impending bounces for Decred’s future price action.
Of course, this is important because the price at the time of writing is currently nudging against said support line. Also, common logic and trading convention tells us that a point/zone being well-tested without the price actually breaking through is indicative of that area’s strength (in terms of support or resistance).
Therefore, we can trust this resistance with relative confidence. Especially when considering the fact that there is a support that is just a tad bit lower than where Decred is currently.
Now, let’s check on where the overhead resistance would lie at:
Relative Strength Index(14)
The RSI(14) isn’t really telling us any crazy information at this point in time, but its definitely something that’s worth paying attention to though.
Balance of Power RSI
Balance of Power RSI here is fairly ambiguous as well. What we can detect though is that there appears to be a recent increase in accumulation, which does diverge (positively) with the price action.
We outlined this most recent portion of Decred via a trendline graphic on TradingView at the end of the chart.
Everything there is to say about the Ichimoku for Decred has been said in the chart above.
So, let’s move on to the Fibonacci Levels (Fixed; Preset this time)
Fibonacci Levels
Zerononcense Reversion Ribbon V2 for Decred
Conclusion
Decred is something that could really bust out of the recent rut that its been in.
For that reason, we have a definitive R/R in mind for $DCR.
Disclaimer: This is not trading/investment advice. This idea was not created by someone that has any type of holding in Decred or any of its competitors.
DCRBTC trade ideas
Cautiously Optimistic About Long-Term Prospect of DCR/BTCDecred's Politeia system released these days, which is great fundamental news.
The volume remains low, unfortunately, and this is the main reason for my reserved optimism.
Technically, we're in the area of a major support trendline so that does look good, coupled with the great fundamentals (more releases coming soon, like privacy).
I'm watching this and holding but things are to be determined. While the volume is so slow, I expect it to stagnate and go sideways - but this could change as we approach the trendline.
DCR Next Move 150% !!For Long Term Holder Very Good Opportunity DCR .
Buy 0.005600
Sell 0.013000
Let See , What Will be Next Move.
Share Your Opinion in Comments.
if You Satisfied With My idea Then Dont Forgot To Hit Like.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
DCRBTCFor the Decred, based on this chart there have been no time before for bollinger bands being so squeezed. I am a long term holder and with the recent news with Politeia (on chain voting) out and running I just can't see it going other way than up. The coin has by far the strongest fundamentals. The most expensive coin to attack due to it's hybrid PoW PoS mining. I am sure one day this bad ass is pulling ETH like run and beyond. It is considered really the only coin out here at the time which can truly endanger the position of Bitcoin.
Im sure you can not find many charts out there which have similar non bubbly chart structure. That speaks for it self
So happy staking and buying
BUY DCR IN BINANCEDCR
Entry below 6100
TP1 7000
TP2 7300
TP3 7500
Stop loss 5900
DCR looks to be in falling wedge.. bouncing at support.. should breakout soon.
DCR may not be that bad as it looksJust in case you haven't seen below is Decred chart from Bittrex. I had many SR lines there, that made it look dirty, so I hidden them. But there were also cycles and I can tell you that now is the beginning of a new one.
Here at Binance at smaller timeframe we have a breakout of descending triangle and possible reverse of a trend (just very very begining). Price might not start growing too far just now but in long term it may climd an impressive mountain.
DCR Broken Downtrend - Going up.DCR just broke it's very short lived downtrend after being listed on Binance.
DCR listing on Binance - Support found - Lets take this puppy UPStochastics, clouds, MTF RSI, and the Mode of God are all giving the same signals and signs that this will keep grinding higher. DCR is not just any old project. It holds its weight through bearish times, and now hey, its coming to light during a bullish time! YAY. I expect an edge to edge KUMO grabbing 12% for this first impulsive move off the found support. Targets are in the box.
Namnaste'