Depression before disbelief - DGB market cycle coming to a close
Updated
The weekly DGBUSD chart is showing great similarity to the classic market cycle psychological setup, along with multiple touches already this year of the 1 cent support line which is looking weaker by the day as we sit there without any movement.
I'm looking for another leg down into the depression phase that could see the price go as low as $ 0.005
I will be looking to add to my holdings between $0.005 - $0.007
Fundamentally, DigiByte seems to be quietly updating an existing product, that has real world applications, and is setting itself up to be a robust, fully decentralized blockchain for a company to build upon.
There seems to be a new media darling or two every cycle and the large gains, and excitable attention that could surround DGB has the potential to bring in a fresh round of euphoric bandwagoners to boost the price up to the next level. That and getting listed on more of the major exchanges to help with greater liquidity.
My targets for next bull cycle
$0.10
$0.30
$0.50
$0.83
$1.00
$1.30
This is not intended as trading advice. I'm sharing my plan and outlook and welcome any contrary thoughts.
Happy trading, stay safe.
I'm looking for another leg down into the depression phase that could see the price go as low as $ 0.005
I will be looking to add to my holdings between $0.005 - $0.007
Fundamentally, DigiByte seems to be quietly updating an existing product, that has real world applications, and is setting itself up to be a robust, fully decentralized blockchain for a company to build upon.
There seems to be a new media darling or two every cycle and the large gains, and excitable attention that could surround DGB has the potential to bring in a fresh round of euphoric bandwagoners to boost the price up to the next level. That and getting listed on more of the major exchanges to help with greater liquidity.
My targets for next bull cycle
$0.10
$0.30
$0.50
$0.83
$1.00
$1.30
This is not intended as trading advice. I'm sharing my plan and outlook and welcome any contrary thoughts.
Happy trading, stay safe.
Note
Depression stage extended. Accumulation to most likely range until next fall to spring.Could possibly see price break below $0.005, if it does I'd imagine the bottom forms in the $0.003 range.
Good luck everyone.
Stay safe.
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