Hey Chart Watchers (DEC this time)!
Will be tracking DEC from time to time when I see something interesting playing out. Otherwise, it's very highly correlated with SPS so if SPS moons, so does DEC, and vice versa. Anyway, on to the show!
Bottomed out?
Similar to SPS, the overall DEC structure recently is a broadening descending channel. That is typically a bullish pattern, but ONLY IF price breaks above the upper trend line. You have to get out of the pattern to validate its bullishness, otherwise we'll continue to fall.
However, if you look at the RSI, we appeared to have bottomed out after the last dip. We'll see in the next few days if demand for DEC increases.
Somebody Pushed DEC Off A Cliff!
The thing that I wanted to show you guys was a perfectly played out horizontal triangle, a break in structure and the hitting of its technical target. If you look at the recent activity of DEC, it formed a horizontal triangle, typically a continuation pattern (if bullish prior to triangle, then up, if bearish, the down).
Now, typically, traders only put in bids upon confirmation of a break, because it can go both ways. In DEC's case, it broke to the downside, and the technical target for such a break is the height of the triangle. That's what the lines signify. and LOOK AT WHERE THE DEC PRICE WICKED DOWN BEFORE COMING BACK UP? Cool yeah? :)
Anyway, where DEC goes from here let's see. If there are any interesting patterns at play, I'll be sure to let you guys know. In the meantime, take care all, stay safe and HODL strong! :)
_________________________________
Like what you see? Upvote and follow me for constant updates on SPS! Thank you all!
Hello friend! Very informative post! I came to splinterlands last 1st September. Get some DEC in 0,007$, 0,011 and 0,013. Do u still recommend buying some more in the deep?
Ty very much!
Thank you! If you need DEC for either airdrops, cards, etc and believe in SPL, of course, especially now to bring your average buys down (from your .011 and .013. However, there's always a probability price could go lower so DCA all the way.
Congratulations @drini! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
Your next target is to reach 50 replies.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!