Dusk Network Second Support Tested (Potential Bounce Zone)

1 Sep 2019

Dusk Network (DUSKBTC) continued its retrace and is now hovering around the 0.786 Fib. retracement level from the last bullish wave.

In our previous analysis, we looked at 0.618 Fib. level, this one is stronger support and is marked on the chart above with a dashed orange line.

We are in a bullish wave for DUSK as long as the last low remains intact. Here are the signals pointing to a potential bounce:

• Hit 0.786 Fib. retracement level.
  
• Trading volume going lower and lower (breakout getting closer).
  
• RSI going flat.
  
• MACD histogram and the line starting to move towards the bulls.
  
• Challenging EMA5.
  

Together with these signals, we still plan for a lower price as well as a potential move up.

So when we trade, we setup targets (for-profits) just as we set up a stop-loss (to reduce risk in the case the trade goes wrong).

Where do you think DUSKBTC is headed?

With a tight stop, you can be looking at a very low-risk setup... Low risk + high potential rewards.

Namaste