Dusk Network Retrace Over? | Where To Next?

Aug 25, 2019

Dusk Network (DUSKBTC) retraced all the way to the 0.618 Fib. level from the last bullish wave. Can it bounce from here?

Normally we have altcoins retracing all the way down to 0.786 Fib., but in a bullish market, the retrace can be as short as 0.382 as well as 0.618. So if the current level holds, you can expect for DUSKBTC to move up from here.

We also see that the price managed to close above EMA100 (blue line) and is also trading above EMA50 (magenta). If there is follow up from the bulls here, DUSKBTC can easily move higher (purple and green arrows).

If instead, the price moves back below these levels, EMA50/100, then we can expect for the red arrow to be followed.


Dusk Network (DUSKBTC) Chart Signals

The signals are mostly bullish right now...

• We have a falling wedge.
  
• Broken downtrend line.
  
• MACD bullish crossover.
  
• RSI on the bullish zone.
  
• Trading above EMA10 (which equals bullish potential).
  

My view. Dusk Network can easily bounce here. If you decide to buy and trade, always make sure to have a plan. What to do if it moves down strong? What to do if it goes up? What to do if it goes sideways?

Prepare for all scenarios...

This is not financial advice.

Namaste.

Sep 1, 2019

Comment

DUSKBTC price retraced to 0.786 Fib. support level, this is Dusks next strong support.

I will share a new and updated analysis.

Namaste.