DGB - Rise of the sleeping giant
Updated
Digibyte has shown exceptional endurance against the rise and fall of bitcoin. 2018 is the year that Digibyte comes alive! Today marks the 4th year anniversary of Digibyte, so cheers to that.
Digibyte is currently trending on the support line (white line) and has bounced off it numerous time in the past. I believe that Digibyte will bounce off the support line and rise to my first TP of about 1150sats. The only concerning thing to watch out for is the MACD, which still depict a bearish trend along with volume drying it. Digibyte can go both ways which is why I will not be buying digibyte until a confirmation breakout is confirmed. If a breakout fails, then I will be able to buy digibyte at a lower price. My second TP is around 2400 satoshi. Digibyte has shown a slow, organic upward trend so the retracement isn't as severe as in those massive bull runs. Honestly, I do not mind the slow organic growth because I'm confident in Digibyte and its working products! These slow gains could be digibyte gearing up for a massive bull run, so I will be watching the chart very closely. Perhaps they'll announce something for their 4th year anniversary, perhaps not. We'll find out today!
This is not investment advice, this is just my take on Digibyte's chart! Happy investing guys!
Digibyte is currently trending on the support line (white line) and has bounced off it numerous time in the past. I believe that Digibyte will bounce off the support line and rise to my first TP of about 1150sats. The only concerning thing to watch out for is the MACD, which still depict a bearish trend along with volume drying it. Digibyte can go both ways which is why I will not be buying digibyte until a confirmation breakout is confirmed. If a breakout fails, then I will be able to buy digibyte at a lower price. My second TP is around 2400 satoshi. Digibyte has shown a slow, organic upward trend so the retracement isn't as severe as in those massive bull runs. Honestly, I do not mind the slow organic growth because I'm confident in Digibyte and its working products! These slow gains could be digibyte gearing up for a massive bull run, so I will be watching the chart very closely. Perhaps they'll announce something for their 4th year anniversary, perhaps not. We'll find out today!
This is not investment advice, this is just my take on Digibyte's chart! Happy investing guys!
Note
We bounced right off that support line! Great way to start the 4th year anniversary :)Note
Wanted to include this but forgot about it until now, my bad guys!
This is the daily chart. This is a cup and handle in the making! I do expect a minor pullback after the formation of the cup formation, hence the name cup and handle, but from there digibyte should continue upward. Also note that the MA of 50 and 200 days are about to cross (golden crossover). Stellar lumens recently had a crossover during late 2017DEC and it sky rocketed from 1500sats to 6400 sats on poloneix! I do expect DGB to follow in a similar fashion (slow start up once it crosses followed by a bull run). RSI has been showing a continuation of an upward trend and MACD is also trending up! It might take a couple more days to break out of the wedge, hopefully sooner rather than later. I am extremely bullish on Digibyte given all these signals, guys! Hang in there through the cryptomarket FUD and we'll be rewarded soon enough. Happy investing mates!
Note
Korea's FUD definitely brought digibyte down during its attempt to break resistance at around 820 sats. We are trending nicely along the support line (white line) and have even bounced off it just now. The trend of bouncing between resistance and the support line might continue for a while before it wedges in and breaks out. We can either buy back now while its low or wait until a candle closes above the 820 sats for a confirmed breakout. RSI is trending upward after that initial pullback from korea's fud. Also note that the MACD has crossed over the signal (orange) indicating that a reversal of trend might be happening.
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Apologies, here is a better picture! Happy investing all!
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We are trending along the channel, more so on the lower side, but we are making steady slow gains. I've noticed that the MACD lines are about to cross which is a indication of a bullish run. The volume is also drying up, which indicates that there are less seller at this stage. RSI is also resettled at the 50%tile which can indicates that the market has settle on this support level with little movement in either direction. New investors will have to eventually buy at the market price which would initiate the bull run that Digibyte has been waiting for. We've held this level for the past few days now and we've also tested the high 600s sats x4 times on the 2hr charts for the past week. This is indeed a newly established support floor for digibyte! Investors are usually hesitant to buy in after a massive bullrun (from 400-->800 sats) because new support/floors have not yet been established. Once established, investors are more likely to buy because the fear of buying in at the "low price" isn't usually followed by a price dip due to the newly found support level. Now would be a relatively safe time to buyin in preparation for the bull run that is ahead, or you could wait for a confirmation breakout! Eitherway there is always a risk to reward ratio that you must keep in mind when investing! That is all that I wanted to address, happy investing all!
Note
We were trending within the channel, but the candles have broken out of the lower limits of the channel. Doing so has put is in a ABCDE falling wedge pattern with us being at the rounding out the final point of the ABCDE wedge. Volume is also continuing to diminish which can potentially mean that a rally is just around the corner.
Jared is also actively trying to get Digibyte onto more exchanges, especially with his latest tweet where he reached out to coinbase! Like I mentioned, I do believe that the bear market is coming to a close soon and hopefully digiyite will be one of the first coins to take off! Happy investing all.
Note
Wave E of ABCDE is complete. We should bounce from the lower limits of the triangle and continue on a path similar to the in the image. That is assuming BTC does not many any movement upward or downward. MACD has been trending downward in the channel for quite some time now. We just need a breakout from the channel to confirm a continuation of the bullish trend.
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