✴️ Decred Simple Signals | Basics But Strong (8 Years Ago...)

8 בנוב׳ 2023

These signals we are going to look at on this chart are quite simple and basic at the same time.
It is always a mixture of multiple chart reading systems.

We start with the downtrend line.
We are looking at Decred (DCRUSDT) on the weekly timeframe.

This week Decred is breaking a major downtrend as it moves above EMA10 and EMA21.
The main signal is the broken downtrend but adding the moving averages can give it additional strength. You can see many instances throughout the bear market when Decred moves above EMA10/21 yet the downtrend remains unbroken.

Together with the broken downtrend and three sessions green, we have a Doji on the 16-October session.

A Doji in this position works as a reversal signal and the action that ensues confirms it.
Buy volume is predominant throughout the downtrend, accumulation is taking place.

To all this we will add a bullish Bitcoin, higher prices in more than 17 months and a booming Altcoins market.

This mixture will lead to a massive bullish phase, one we have not seen in about 6/8 years...

Namaste.