DGB/USD - Stages of a market cycle: Where DGB might sit
Updated
(See my old idea with the other alternative channel option as well)
As much as I'd like to see Digibyte bounce here and slowly climb along the edge of the top parallel channel, I'm just not seeing the volume that warrants a lift. What I have learned is that what we want to see is less likely to happen than what we actually end up seeing happen.
BTC is still range trading, trying to break above 10k. If it doesn't manage to get and stay above that threshold but rather breaks down for a few months until the end of the year, it could take the alts down even further with it - Digibyte being one of those effected. If that's the case, I would expect to see Digibyte break down out of the previous parallel channel and beneath the current support line into what I've labeled as the "depression" buy zone ranging anywhere from ~ $.003 - $.008.
Then, based off of BTC's next halving cycle next year on May 15th 2020, things could start a healthy cycle again in the crypto-sphere. The past few major cycles succeeded the halving, NOT proceeded.
Either way, I believe DGB is at a crucial marker on the meme and it is important in my book to always look at 2-3 possible outcomes regardless of desires in order to actually perceive the end result and make wise trading/investment decisions and ins/outs during the entire process.
As much as I'd like to see Digibyte bounce here and slowly climb along the edge of the top parallel channel, I'm just not seeing the volume that warrants a lift. What I have learned is that what we want to see is less likely to happen than what we actually end up seeing happen.
BTC is still range trading, trying to break above 10k. If it doesn't manage to get and stay above that threshold but rather breaks down for a few months until the end of the year, it could take the alts down even further with it - Digibyte being one of those effected. If that's the case, I would expect to see Digibyte break down out of the previous parallel channel and beneath the current support line into what I've labeled as the "depression" buy zone ranging anywhere from ~ $.003 - $.008.
Then, based off of BTC's next halving cycle next year on May 15th 2020, things could start a healthy cycle again in the crypto-sphere. The past few major cycles succeeded the halving, NOT proceeded.
Either way, I believe DGB is at a crucial marker on the meme and it is important in my book to always look at 2-3 possible outcomes regardless of desires in order to actually perceive the end result and make wise trading/investment decisions and ins/outs during the entire process.
Note
Looks like BTC broke down, DGB following along. Now entering potential buy zone IMO. Rest of the year will be interesting.
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