Trade Suggestion: DistrictOX (DNT)
Our April 14, 2018 trade recommendation for the district0x/Bitcoin (DNT/BTC) pair hit the target on April 22 when it went as high as 0.00002304. Those who followed the trade recommendation grew their investments by at least 50% in about a week.
The trade recommendation also emphasized to sell immediately once the target is hit. It was evident that the pair was not yet ready to launch another bull run. As predicted, DNT/BTC broke below 0.00001 support on May 21. This triggered a waterfall event that saw the pair drop to as low as 0.0000058 on June 13. The good news is the pair appears to be ready for a bounce.
Technical analysis reveal that district0x/Bitcoin may be bottoming out at 0.000006 support. This view comes after the pair broke below this level on June 13 but bulls swooped in to take back the support. Also, a long hidden bullish divergence can be seen on the daily chart. This indicates underlying strength. Lastly, the pair is still near oversold conditions.
The strategy is to buy as close to 0.000006 support as possible. If bulls can carve a bottom here, they will attract the momentum they need to move to our target of 0.00001.
The process may take less than a month.
Daily Chart of district0x/Bitcoin on Binance
As of this writing, the district0x/Bitcoin pair is trading at 0.00000635 on Binance.
Summary of Strategy
Buy: As close to 0.000006 as possible.
Target: 0.00001
Stop: 0.0000058
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