If you look at my last analysis for Dragonchain (DRGNBTC), you can notice that prices moved and closed below the 0.786 Fib. retracement support, eliminating 100% of the gains relative to the last bullish wave...
This is good news because all weak hands have been removed and prices are moving back up again.
With prices now gaining upwards momentum while bouncing off support, we have higher chances of breaking higher and lower risk when trading this call.
The next barrier to conquer is MA200 or 0.00000426.
If DRGNBTC can close above this level, we can see pretty good growth.
This level can be taken out tomorrow (green arrow) just as the attempt can fail and a retrace takes place (red arrow).
Even if prices break below the "last low", we remain bullish all the way (blue arrow).
Thanks a lot for reading.
Namaste.
========================= This is not financial advice. All the information shared here is intended for educational and entertainment purposes only.
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