BTC killer is woundedTo those of you who do not know, DGD has an inverse correlation with Bitcoin and it is the only coin i know of that exhibits this behavior (if you know another please let me know). This means that when BTC goes down DGD goes up and vice versa and these are not minor runs these are huge runs making this trading pair the most volatile I've seen which is why I love to trade it. However at the moment with BTC tanking there has been little response from DGD which is disappointing as I only managed to scim a 1% on a trade with it. The chart sheds some light on why.
Looking at the daily chart it is clear we are in need of a more significant correction to enable us to go higher and renew this lovely inverse relationship. We have completed a 12345 Elliot wave pattern and likely waves A and B of the correction leaving us in wave C down. On the MACD we are about to complete a bearish cross as well as bearish divergence occuring on the RSI, these two factors are what are likely preventing DGD from going up while BTC corrects. I have given my optimal landing zones on the chart which will likely happen nearing the end of BTC's next bull run (if it has one). The golden pocket territory looks really good because we will likely get the daily 55 EMA converging on golden pocket increasing the chance of a bounce.
We may get a small increase if BTC goes down to its next support at 10150 but the increase will be neglible as DGD is showing no signs of strength or general interest.
Please like and follow for updates and questions are most welcome.
*This is not financial advice*
Digixdao
inverted H&S breakthroughDGD looking bullish again after making a nice ABC correction and then breaking through a perfect inverse head and shoulders pattern.
Now it is consolidating right above new support after a nice little volume spike. Good possibility of continuing this new uptrend
CoinLoop AI Signal: DigixDAO (DGD) - SELLDigixDAO ( DGD ) · Loop A.I.
Indicator: Sell volume rapidly increasing. Price touch resistance and broke downwards. Key sell signal from RSI.
Signal: Likelihood of price decrease: 76%
DGD/BTC Idea (Binance)Trend line @ .044616 satoshi. Also, conveniently lines up with the .618 Fib line, which the price just broke below and is now hovering in the upper .5 zone.
Price looks like it will drop below the upward white trend line and continue towards the lower .5 Fib range before bouncing back up.
Hoping for a break upwards, but doesn't look like that would happen until under and past the white trend arrow.
Just guessing here.
As BTC Weakens, DGD/BTC (DigixDAO) Gains further MomentumBitcoin is having a bit of a down day today. If you want to hedge/protect against or even profit from a drop in BTC, especially if you pair trade with BTC pair trading, then one of the best ways to do that without having to go short or margin trade BTC is by trading DGD/BTC.
As I've stated previously in my previous post about the inverse relationship of BTC/USD vs DGD/BTC (see related ideas link). There you can clearly see the inverse relationship between BTC/USD and DGD/BTC.
In case you've missed the initial flag/triangle breakout, DGD/BTC is now forming a bull flag. When BTC price drops again, then look for DGD/BTC to break out of the flag. For that to happen, BTC/USD has to break support which is around 10.850 (Coinbase) at the moment.
Please leave a comment if you have any questions.
And as always, good luck trading!
Not as expectedWe are not bullish on this one as we were yesterday, we would like to expect 24 hours more to see if this is just a consolidation fase in which we could reinforce our position or just wait a sell off. Thanks for your comments. You will be able to find us here soon
Is DigixDao [DGD] the sleeping giant?Recently Digix announced that it was partnering with Maker in order to provide stable coins that are backed by physical gold to users.
Could this be a replacement for Tether? Digix has a long history of providing heavy transparency and is one of the longest standing ERC20 tokens on the Ethereum network. This alongside their 2.0 release coming real soon could make for an intense shift in usage that is already being seen over the last few months.
For more information on DigixDAO and Digix. See the official FAQ:
medium.com
DGD starting to look bullish, again...Most of the top 100 altcoins are in green momentum and we expect a good support for DGD too at the current level. We will be taking a long position with 10% of our current portfolio if the trend cotinues in next hours.
DigixDAO/BTC Correction passed strong support, next lows comingMy previous prediction was correct but the price corssed strong resistance (yellow dotted line) that opens a way for deeper ride.
touching top of pitchforkMy trade last night in retrospect could have been better. My sell target was too ambitious given the amount of room left to grow in this pitchfork. It could have been a good scalp between 55 and 57, but nothing more.
That being said the mid term outlook for this token is still good.
The price action is still moving well within the pitchfork and we can expect it to continue further.
Early warning signs of a reversal are when price action falls below pitchfork trading range in a rounded top or if it makes a parabolic move out and above the pitchfork (similar to the NANO rally).
buy target is 45-46 here, ill update with sell targets if we get that far.
DigixDAO/BTC - Correction highly possibleBitcoin is about to cross downtrend line from $19k hence is about to long term trend reversal. There is reverse dependence between DGD and Bitcoin prices as we can notice in historical charts, which can be confirmed in current drop from impulse move of DGD. Drop below the high of wave 3 (0.044 BTC) should confirm ABC correction and should fall to at least 50% fibo which is very close to the high from February 8th.
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.
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! :)
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
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.
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.
DigixDAO - Sideways or Upward? – Downward...Not so probableWhat's it going to be? Sideways action or an uptrend breakout?
DigixDAO Whitepaper: digix.global
This analysis does not constitute financial advice and should not be treated as such.
DGD nice fib consolidationDGD looks tlike its preperaing for a big run up with an ascending fib consolidation. Important peaks are falling within the golden ratio and the underlying trend line is going up fast, break out could be within the next hours to the next days.
perfect fib consolidation on DGDI wanted to share this because I thought it was cool.
A way to recognize consolidation into bullish overdrive. Perfect Fibonacci bounces respectfully 78% and and down to 23% where it narrows further into the fib channel between 62 and 38 percent before breaking through the previous high on high volume. This shows an almost guaranteed bullish momentum follow through, especially in a speculative market like this.
