Technical Analysis - Constellation
DAG/BTC - 01/06/2020
As shown in the chart above, we will be updating the DAG/BTC Technical Analysis from the 21st of November.
Without moving even a single line on this chart, the technical analysis is still valid and shows the quality of putting work into a chart, being ready for everything. DAG/BTC broke as expected the parabolic uptrend and has shown the sign of weakness within a Head and Shoulders pattern. This pattern broke down the green highlighted key-area of local support and has now advanced to the next one, which still needed a clear confirmation. It has shown a significant reaction at this level, reaching almost the yearly highs again.
DAG might be retracing currently, yet it is a healthy retrace which we are seeing, and there is an increased chance of a re-test of the green key-area above. The TJ-Index is quite low, and the recent bullish engulfing at this mentioned key-area of support, including a steady volume in the company of that, is the first sign of strength we want to be seeing. The MKAST-Algorithm is still showing a buy-signal, leaving space and confirmation for the slightly more bullish bias at an area of support, which has now been re-tested and confirmed.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
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