Digibyte is a third coin on a long term investment situation based on its weekly and monthly charts, so i post this looking for a buy in on the daily. Right now, Digibyte has been in moving to a more bearish trend with lower highs and lower lows, so a buy in may take some time. All oscillators confirm the trend is still bearish and we may not see support until we hit 430 Sats which is the bottom Bollinger Line and a prior daily support location. If the bounce happens, we still have to gain some ground to confirm a more bullish trend. I would be waiting for a close above the 20 period moving average and a break of a resistance area i have marked at 481 SATS. A buy in may take some time before i look to start accumulating Digibyte, so I will have to keep a long eye on this coin. If support fails, this could cause a complete bearish reversal for long term investment consideration. We will see which direction Digibyte moves in the coming week..
Note
Digibyte has started moving sideways. We ave a channel break but the trend is still very weak. The volume like many other coins is very low or tapering off. We have seen small boosts on many coins but not enough to make a trade exciting. If volume increase and pushes the trend north, I wait for a break of the 20 period moving average and a positive on the Ac Oscillator to enter. If we do not get the volume, we may see support break and a complete trend reversal.
Trade active
Digibyte has broken through the 20 period moving average with a strong trend forming so I am making an entry. We also have broken over the 50 period moving average showing another bullish sign for DGB. Ac oscillator is above zero and the BB% is up but again we have some flattening of volume so the trend may fall short though im taking a chance with an entry.
I entered around 464 sats and have set a stop near 447 if there is a reversal of the trend to be safe.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.