neariung top of pitchfork.560-570 should be a good sell zone. then wait before returning to median or bottom off pitchfork range to buy more. If it falls out of trading range then look for better entry as usual.
DGDBTC
DGD Searching for Support DGD vs BTC (by Request)Risk too high for long term investments.
DGD needs to use Fib levels to find support if it wants to go lateral.
Currently in downtrend.
Fueled by good news DigixDAO (DGD) will probably break outDigixDAO (DGDBTC) is usually inversely correlated with BTCUSD: whenever Bitcoin drops, DigixDAO tends to raise and whenever BTCUSD raises, DigixDAO tends to drop.
However, doing the past few days, in spite of BTC raising, DigixDAO has been increasing in price, gaining a market capitalization of over $ 1 billion and reaching rank #26 on CoinMarketCap.com, a little bit behind Binance Coin (BNB) which is #25.
I attribute this to major good news being reported by DigixDAO on the 27th of February:
launch of marketplace for DGX at the end of Q1 2018
demo version already undergoing testing on Kovan Ethereum testnet
new people hired
conference at the University of Singapore about the future of blockchains and crypto
I think that what DigixDAO will do (store real gold and make it available as Ethereum tokens) is easily worth $1 billion to the community.
DigixDAO has currently encountered resistance at a level of around 500 USD. I think that, if the pressure on the resistance continues for a few more hours, it will break out. The assault against the resistance zone has already lasted for about 12 hours, forming a bullish triangle. Just a few hours more and it will probably break out.
If it breaks out, DigixDAO (DGDBTC) will be #25 on CoinMarketCap, taking the place of Binance Coin (BNB). It is a good project which has made good progress. HODL! :)
Up, Down, Up, Down, Up, [fill in blank]We'll see how long this lasts.
Some other DGDBTC charts that I really like (Be sure to click on them and hit play.):
DGD to BTC Correlation (Hourly)Someone posted something similar, so I took a closer look. Earlier, I posted a daily version of the chart, this the hourly.
pitchfork updatecould continue trend still. Nice short term reversal on bottom trend line. Red line is for stop loss in case price action falls out of range
DGD is the new Tether! And it's the best way to short Bitcoin!When Tether got slapped, DGD took over. And it's much more volatile.
Short BTC by DGD depositi think that dgd/btc price corelated with mirror btc/usdt on binance
yellow-black bar - dgd/btc price
green-red bar -btc/usdt
blue -dgd-usdt price
It is necessary to impose a graph of dgd/btc &dgd/usdt on btc
when btc price down buy dgd, instead of going into the fiat and take profit!
when btc price grows up hold or sell depending on the price behavior of dgd in dollars
misplaced pitchforkIn an earlier post i detailed DGD following a nice upward channel trend.
Looks like it was not quite steep enough so ive adjusted it here. Should provide some insight as to when the trend should reverse short term. good for collecting extra DGD if your already holding.
Crypto tips: DGD - The money maker in a bear's marketDGD is a coin based on gold, so the price is stable, compare to btc. Thus, when BTC goes down, DGD and USDT are the best plays for everybody. By looking at the chart, we can see the opposite pattern of the price between BTC and DGD. So whenever BTC goes down, throw all your money into DGD.
DGD-BTC is promising to run too high, just preparing to jumpIt's my first time to share an idea, may you can call it the first result of new student here
This BINANCE:DGDBTC as the chart showing have a very good opportunity to run high in small period
The targets as shown in fib lines, so keep an eye on it once it explode outside the triangle to catch the rocket before it's launch.
Happy safe trading all.
possible pitchforkI used an approximate 50% from the last down trend to start the tail of the pitchfork. If the second peak reverses around the upper limits of the fork it will confirm it.
DGD is the new USDT, and it's even better!DGD is running inverse of BTC. It's equivalent of shorting BTC, and it's about to explode!
Inverse Correlatoin Between DGD (DigixDAO) vs BTCThe graph above shows a comparison line chart between DGD (DigixDAO) vs BTC over the last 30 days.
As you can see the correlation between the two is quite significant. It's not a -1 inverse correlation against Bitcoin so it's by no means a perfect hedge against a drop of BTC but good enough to trade on we think.
To test this "theory", we thought lets put on a trade for DGD/BTC when BTCUSD is weak and dropping. So that's what we did this Wednesday:
We've entered DGD/BTC after it clearly broke out of its equilibrium/triangle pattern and was also when BTC/USD broke through a support level.
The drop of Bitcoin last Wednesday wasn't that severe when we've entered the trade cause BTC dropped quite a bit already hours before but with our trade, we've managed to make about 6% in a short amount of time.
DigixDAO or Digix (DGX) is also an interesting project/coin. Digix tokenizes gold on Ethereum. Every DGX = 1 Gram of gold.
You can own, save and transact Gold in tokenized form - keeping secure private ownership of your digital assets. Basically, you can see it as digital gold.
This inverse correlation is much like the inverse relationship between the stock market and the gold price. When the stock market drops (heavily), gold price tends to rise and vice versa.
You can trade DGD/BTC on several exchanges but the mean exchange with by far the most trading volume is on Binance.
So try it out yourself next time when BTC drops again. We think it's one of the best ways to profit from a drop in BTC and "hedge" your Bitcoin position against it without having the option to go short or with margin trading.
Please like and share if you found this informative and helpful. Leave a comment if you have any questions.
And until next time, good luck with your trading!
DGD vs BTC through December Peak and January/February CrashesWhen BTC spikes and drops in value many coins suffer and never recover. DigixDAO's purchasing power continues at a steady rate regardless of December's BTC peak and responded inversely to BTC's crash in early january and late February.
DGD Potential Break outDGD has 3/4 signals Bullish. Waiting on the Bullish TK Cross which if it happens in bullish territory is a very strong signal.
Clouds are very thin so if we don't see much momentum then could easily plunge back under.
Below average volume for this hour and middle of the road RSI could help push this up if we see some good buy volume.
DGD/BTC - Potential break out soon(TM)DGD seems interesting atm. I was gonna post this 15 mins earlier but there was an issue with my ISP.
Technically it touched the slim box, but go easy on this, there is no DIV to confirm a reversal. Volume is slowly rising though.
