DGB Pennant- 40% Gain Ahead! A little late on this one so I will keep it short, I went long on DGB and I am aiming for a 40% gain on this trade, With a tight stop loss as BTC could slash out and ruin my trade!
I am always learning so if you think there is something I would do good with knowing, leave it in the comment down below!
Always use a stop loss.
DGB
Digibyte current scenarioDigibyte 2 possible scenarios:
1) breake above descending triangle
2) breake below descending triangle
Notes:
1 - We have strong support at 175 sats (green line - 50 days uptrend)
2 - We have strong resistance at 55 RSI (yellow line) + 185 sats
3 - Neutral MACD
The next hours will be very important to decide the next dgb movements
DGB CHANNEL FORMATIONDGB has managed to turn the 50 MA into a rising channel with clear touch points
MACD seems to agree with the incoming channel bottom
price has had some healthy consolidation and may soon be ready for a test of the channel top line, or mid line
is the cryptocurrency market ready for a true bull market?
Digibyte 4h Chart UPDATEDigiByte 4h Chart UPDATE:
1 - The prior chart still valid! I'm just detailing my vision.
2 - We can see 28 days RSI resistance (yellow line).
3 - To view a great movement, DGB need break above 60 RSI.
4 - Possibility to complete an inverted head and shoulders.
If you enjoyed this update, please leave your like!
Cheers
Bullish Flag Formation (4h chart)The prior chart still valid! I'm just improving the vision.
1 - We didn't seen any flag breakout yet.
2 - EMA 50 / 200 didn't cross (very bullish signal).
3 - Green line = 45 days uptrend.
4 - Break above the ORANGE line = BULLISH signal
5 - Break below the green line = BREARISH signal
6 - First support - red line
7 - Second and strongest support - green line
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Cheers.
Bullish Flag Formation (4h chart)As I said in my preview post, "we have a possibility of bullish flag formation, if DGB breaks below 210 (under pennant), but hold above red/orange line."
Now, we have a bullish flag formation.
If candle close above 215, DGB will turn bullish.
If candle close under 185, DGB will turn bearish.
Support at 190 (EMA 200 + flag bottom).
EMA 50 / 200 didn't cross (very bullish signal).
Very strong resistance RSI at 60, DGB will need a large volume to break that level.
I hope you enjoy this update.
DGB/USD- Where are the Bulls?DGB (Briefly) broke out from it's downtrend last week but since then it has continued to trace back towards original break pricing.
It now appears to be tightening up again as it nears the original break level so we may see some gains in the next couple of days.
The concern is that the trailing resistance only rests about 10% from support.
I'll be watching and looking for a potential fall through this upcoming support to a more favourable entry point but for those feeling brave it may be enticing to buy a break from this short term decline.
Thoughts and feedback welcomed.
Bingaz.
Digibyte 4h UpdateAs I said in my preview post, we have a strong RSI resistance at 60 level and other strong resistance at 220 sats (both were clearly marked on the chart).
If Digibyte breaks these two resistances, a big upward movement will be expected.
1 - EMA 50 / 200 didn't cross (very bullish signal)
2 - Pennant formation
2 - MACD going up
3 - RSI fighting to break the resistance (+-60)
4 - Support at 190 sats.
If Digibyte climb above 225 sats (candle closing above 225 sats), a great upward movement is expected (uptrend reversal)
Digibyte 4h Chart1 - EMA 50 / 200 didn't cross (very bullish signal)
2 - MACD going up
3 - RSI fighting to break the resistance (+-60)
3 - I believe that we can have a retest on the downtrend parallel channel (marked in green)
Support at +- 200 sats.
If Digibyte retest the parallel channel and climb above 220 sats, a great upward movement is expected (uptrend reversal)
Trend reversal1 - EMA 50 / 200 didn't cross (very bullish signal)
2 - Excelent volume
3 - Neutral MACD
4 - Good RSI (holding above 50)
5 - We had a retest on the parallel channel (marked in green)
Support at +- 0.018
If Digibyte hold above the parallel channel and climb to 0.021+ , a great upward movement is expected (uptrend reversal)