DNT Double Top - Second Stage Run PossibleOkay guys, I got a bag of District0X about 3 weeks ago at 0.0078, and as you can see, I'm sitting on a double that is making it's way to a triple. I had been studying this project since May, and finally decided to jump on board. This is one of the most interesting projects out there, and what I like about it most is the high number of people involved for the use case and not the pump-and-dump. I spent quite a bit of time chatting with some of the admins on the District0X Telegram board today, and let me tell you what... these young people are serious about what they do!
ALL of the different projects in the District Registry are really cool. And if I was into coding, I would be heavily involved right now. You can check out some of what District0X is all about right here ---> registry.district0x.io . I'm gonna tell you what, the majority of this sails right over my head. But I get the overall concept of each project, and it is very intriguing. The "Meme Factory" concept is the favorite. It's a project that merges memes with the blockchain, where competition goes on for the creation of unique digital assets in the form of memes.
Rather than yammering on about crap I really don't understand, I'll focus on the technical aspects and fundamentals of this coin. First of all, there's only 1 billion in the total supply. The amount circulating is about 750 million. When you compare these numbers to coins that have made massive runs of recent, with higher circulation totals, and projects not nearly as interesting as DNT, that's all one needs to know if you're wondering about the potential for the price.
Looking at the chart, we have a massive double top formation printed on the price line. Keep in mind, the second peak is not a lower-high. It matched the closing price on the 4-hour candles. As the stochastic looks peaked out above the 80% boundary, I am looking for a normal correction. I'm tempted to load the wagon as soon as that stochastic makes its way down under the 20% line to "oversold" territory. Then it's time to hold on tight and ride it out.
Will it break to the up-side? If the bull market continues, it probably will. But there's talk of the stock market getting kicked in the teeth on Monday. Depending on how the crypto market reacts, we could see major corrections across the board. I will say that the chart BTC is posting up right now does not give me confidence about the bull market continuing. So don't make any bets based on my uneducated "hopeful" information. I ain't no financial advisor. I'm a number crunchin' calculator-pushing civil engineer... among other things.
Carlton Flowers
The CryptoPro
