DCR/BTC (DCR token) Awe Inspiring Price Symmetry-Top Soon!DCR/BTC (Decred token) Daily bars, semi log scale, candlestick wicks removed.
5/21/18, 6:00 PM EST, by Michael Mansfield.
BOTTOM LINE:
Decred is approaching the confluence of numerous strong resistance lines and measured price move-price equality projections-for our first price target area. This looks like like Wave V of (III) or possibly Wave C high. See below for details.
WHAT IS THE DECRED TOKEN:
Decred (DCR) is an open-source blockchain based on an innovative consensus voting model that offers autonomy, scalability, modular code so its easily modified, and self-ruled where the Stakeholders make the rules.
AWESOME SYMMETRY:
Notice awe inspiring price symmetry of the past price swings lengths to subsequent price moves lengths, both up and down. Take the time to really study this chart!
PRICE TARGETS ARE: 0.001449, 0.0016650 and 0.001759
Price Target 1 = 0.001449: The current price swing labeled Wave 3 or C (no real preference yet) looks like it may top in line with multiple resistance points that also happen to be at two of the price levels suggested by a measure move from two vertical arrows that were cloned from the prior price waves then added March 29th low.
The first price target is also 1.3146 x “Wave A or Wave 1” up from the December low, then added to Wave B (or Wave 2) low in late March, 2018. How cool is that? Very cool!
Target 1 is also a Gann Fan 8:1 line (black dashed line) which tends to be super strong. If DCR breaks this resistance price, there is likely a much larger cycle still heading up that we cannot yet measure. And,
that likely means this is a Impulse Wave 3.
Price target 2 = 0.0016650, is 1.618 x Wave A or Wave 1.
Price target 3 = 0.001759, is based on largest vertical arrow cloned from the prior
price moves (same distance repeats) then added March 29th low.
CYCLES:
Two cycles are in the topping process between now and May 30th.
Blue cycle is major cycle and in phase thus far. It is in a topping phase, but as a longer-term cycle,
it has a wider window for the market crest, which, should be between today, Monday, 05/21th to 05/29th
next Wednesday. It’s
Red cycle was in phase until Nov. low, but has been out of phase with Drecred since then.
Dominant cycles almost always win, but we should add that the red cycle (been out of phase) does
top latter than the others, on June 19th, but that is not a strong consideration at this time.
Green cycle is in phase and peaks between 05/26th to 05/28th, with the center date of May 27th.
Since markets can top early (Left Translation) or late (Right Translation), it is possible that today was a top. The market did hit the 75% Andrews Pitchfork resistance line, and during the day the high almost
hit the GANN Fan 8:1 super resistance line, which, is also a measured move point, as shown by the
shorter green vertical arrow off the March 30th low.
SUMMARY:
Look for a top between today and May 30th, giving it an extra day. Use short-term intra-day charts to
find a tight exit point and perhaps a lower swing high to put on a light short trade once this degree of top
has been confirmed.
TRADER TIPS:
Look for repeating price swing lengths then add or subtract those measurements from major swing highs and lows for addition confidence of price targets. Especially when they line up with Gann, Andrews or Schiff lines.
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Cheers and best wishes,
Michael Mansfield CIO
