I just want to give an update on DGDBTC Technical analysis
. As predicted, DGD
is now free falling from 0.786 toward 1 Fib level. There was a bull trap region happened on the 6th
of May. However, as I stated before, DGD
could not resist the descending triangle
. Price action for an upward trend has been very weak over the bull run period of Altcoins and BTC
. Like any other altcoin, DGD
is subjected to systemic effect of BTC
. Due to a downfall in BTC
cannot escape the bearish
scenario ahead. These times are great for extreme long position on DGD
as compared to high peaks in early Feb and Mar. These long positions are risk free trades for awesome gain in the next bull run. Pessimistically, we will be looking at 100% gain at the 0.5 Fib extension. In a bullish
scenario, we will be looking at 160% or above when the bulls kick in.
However, it is hard to tell whether DGD
will hit at level 1 Fib as Crypto in general is an unregulated and high leverage markets. Therefore, laddering between the current market price to 0.022 would be ideal to average out the buy price.
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I am not a professional financial adviser. This should not be used for your trading actions but rather a contribution of knowledge to the community.