$DMD, Bounce Or Failure

5 Ağu 2018

Weekly
Looking at our trend timeframe we see DMD is stuck in a major downtrend with no signs slowing down. Stochastic rsi showing monumentum has bottomed out, but still no signs of reversal. Expecting price to fall towards 20000, and bounce off this level, if we do not bounce off this level, it gets scary.


Daily
Shifting over to our pattern timeframe we see price has found support at 40000, stochastic rsi showing momentum heavily shifted towards the upside. A daily close above 41500 activates our trade, a rejection from this level and expect DMD to sell off towards 20000.