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.
DGB
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)
INVERSE DGB FALLING TO .05in this inverse view of DGB it is clear that many support levels have been lost
the price could not hold on to the channel bottom or the support at .165
if it cannot get back above .165 the unfortunate next support is .05
we can only wait and see if it holds
crashing upwards