DECRED (DCR) Could Start a Second Impulse Motive
SUMMARY
DECRED (DCR/BTC) correction had started all the way back in March of 2017! Per the below chart, that correction took nearly 9 months...talk about a flawless and extreme execution of the "Hurry & Wait" Altcoin Syndrome! The overall correction can be mapped as an ABC (red) where each subdivides to qualify the labels. The red C is complex in count with wxyxz triple. When price broke out of the upper white wedge line, it was a bit far away from the Apex whereas a more proximal distance usually signals more bullish trend reversals. The smaller wedge fractal can also has future price pathway implications.
The blue impulse waves show that the breakout was likely genuine and the smaller wedge is marking an abc decline. The blue waves become subwaves to a higher degree wave 1 and the abc subwaves to a higher degree wave 2. IF this count is correct, then wave 3 up should be signaled to be next with a seconf round of impulse motive.
Fibonacci shows that current price is at 50% retrace of the blue impulse motive. I believe the 0.618 is quite feasible as shown in below chart.
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The analysis seems simple and beneficial for day trading but I dropped by to spread a word of caution: Newbies (just in my opinion) shouldn't put in a lot money in day trading. One of my friends has lost about half a million doing that. If you still want to do it, check the news and listen to multiple people doing TA.
Your friend must be very weathly
we hope it will be better as soon.
I don’t daytrade. The only secret to making $1 Mil by day trading is to start with $2 Mil.
@HAEJIN that don't even make sense. If you already have $2 MILLION just go buy a LAMBO.
Thanks @haejin for listening to your peers and taking requests!
Can you comment on future price discernment on DCR?
Analyzing any chart of crytocurrency compared with other crytocurrency you cant see the real structure! Without it your analysis is worthless. But you mention very good point "IF this count is correct" :)
I think it's wrong as DECRED moves in descending channel, and I don't see any break out:
where do you find these shitty coins? you need any help findibg them? here,s an idea. paccaoin. 1200+ on coinmarketcap
useful useful information, thank you and without less respect I hope you are pleased to help upvote my block, thanks
I think price once to go down, potential buy opportunity at 0.003 Btc.
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Great to see the DCred review
Thank you for sharing
Evidence of this is clearly seen in the current trend and behavior of cryptos this days
I think this is not good for steemian. we want better.
What do you mean?