Digibyte Profit Taking! Now What?
Digibyte, along with most of the cryptos that are actually acting well all had 9 counts on the TD Sequential Indicator. All in all, nothing to really worry about. Just the move was exhausted and this is where profit taking usually occurs. Literally, the exact same action as the Bitcoin chart. Which to me, is rather healthy. This is giving the overbought RSI a chance to cool down and reset, the MACD is still in great shape and have plenty of room to run. DGB actually touched the top of the Bollinger Band and this all happened in concert with the TD 9 and RSI entering overbought territory. Everything lined up perfectly for a pause in the upward movement. This is what you want to see when you decide to do any trading. You want as many indicators as possible helping to assist you in putting the probabilities in your favor. No single indicator is going to be right all the time, you have to take a 360 degree view of the whole landscape before you execute a buy or sell.
If we can start to trade above 2.9 cents and close there tomorrow, then we will have a green 1. On Wednesday if we can get a green 2 then we should see some bullish action. The absolute best case for DGB is to trade above the 200 day moving average around 3.3 cents (hopefully with some decent volume and then you can buckle up for a nice move higher. Until then..... snooze fest.
If we can start to trade above 2.9 cents and close there tomorrow, then we will have a green 1. On Wednesday if we can get a green 2 then we should see some bullish action. The absolute best case for DGB is to trade above the 200 day moving average around 3.3 cents (hopefully with some decent volume and then you can buckle up for a nice move higher. Until then..... snooze fest.
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