Trade_Masters
Panjang

As BTC Weakens, DGD/BTC (DigixDAO) Gains further Momentum

BINANCE:DGDBTC   DigixDAO / Bitcoin
Bitcoin is having a bit of a down day today. If you want to hedge/protect against or even profit from a drop in BTC , especially if you pair trade with BTC pair trading, then one of the best ways to do that without having to go short or margin trade BTC is by trading DGD/BTC.

As I've stated previously in my previous post about the inverse relationship of BTC/USD vs DGD/BTC (see related ideas link). There you can clearly see the inverse relationship between BTC/USD and DGD/BTC.

In case you've missed the initial flag/triangle breakout, DGD/BTC is now forming a bull flag . When BTC price drops again, then look for DGD/BTC to break out of the flag. For that to happen, BTC/USD has to break support which is around 10.850 (Coinbase) at the moment.

Please leave a comment if you have any questions.

And as always, good luck trading!
I wish that were true these last few days
Balas
Trade_Masters jason.l.warkentin
@jason.l.warkentin, yes good point Jason. As said in my previous post as well, the inverse relationship is not -1 or 100% and does certainly not occur each time. We see that when BTC dumps hard for several days, basicly the whole market and DigixDoa/DGD goes with it, therefore, unfortunately, is not a perfect or ideal hedge so please keep that in mind.
Balas
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