Long
DGDBTC - Possible 25% gainer with more potential
DGD is a coin that has designated itself as the stable coin of the crypto world, its use similar to precious metals in a bear market.
Viewing the chart on the 6 hour chart, we can see through VPVR that there is good support around the high .020s region, protecting DGDBTC from breaking out of its trend channel. However, what's also seen is its resistance levels above it around the 0 level Fibonacci extension. MACD is very bearish, while RSI is starting to trend up but has not made a convincing strike up.
On the 2 hour chart, the 48EMA is about to cross under the 100EMA, DGDBTC is stretched far out of the Bollinger bands, RSI/MACD aren't looking so great either.
However, it's wicked up from the -.236 Fib extension, making a double bottom on a support level. It also has not broken the Fibonacci speed resistance fan's .382 level. We may see a reversal now, but due to its the indicators I believe that the best option would be to make orders in down to the bottom of the trend channel, with a stop loss near the -.382 Fib extension level. It may also be wise to take profit at levels before the target.
Viewing the chart on the 6 hour chart, we can see through VPVR that there is good support around the high .020s region, protecting DGDBTC from breaking out of its trend channel. However, what's also seen is its resistance levels above it around the 0 level Fibonacci extension. MACD is very bearish, while RSI is starting to trend up but has not made a convincing strike up.
On the 2 hour chart, the 48EMA is about to cross under the 100EMA, DGDBTC is stretched far out of the Bollinger bands, RSI/MACD aren't looking so great either.
However, it's wicked up from the -.236 Fib extension, making a double bottom on a support level. It also has not broken the Fibonacci speed resistance fan's .382 level. We may see a reversal now, but due to its the indicators I believe that the best option would be to make orders in down to the bottom of the trend channel, with a stop loss near the -.382 Fib extension level. It may also be wise to take profit at levels before the target.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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.