Digibyte Analysis. Price Stalling
The Digibyte price is stalling at the 200 day moving average. It was able to briefly trade above it yesterday but was rejected. This move coincided with the same action on the BTCUSD chart at the 50 day moving average. Also happening simultaneously is the daily 9 forming on the chart while using the Tom Demark Sequential Indicator. This is usually normally the time when profit taking occurs and the recent move pauses. Totally fine for DGB to sit around for a few days and then resume the next move upwards. Still a lot of bullishness in the chart here. This smack down also puts DGBUSD back below the saucer formation breakout level that it's been flirting with. Truth be told, the longer Digibyte stalls here, the greater and stronger the move can be once it finally busts out of range. It's well above the 50 day moving average and that should be strong support if the price should get into trouble. If DGBUSD loses the 50 day moving average at around 2.5 cents, then good night nurse and you're in for some trouble. Right now, this is just normal profit taking and I'm not too concerned with it. What do you think? Please comment below.
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