XDBUSDT attempting a bullish break-out. +600% profit opportunityDigitalBits is on a 4 day rise on the 1D time-frame, having broken yesterday but not closed above the 1D MA50 (blue trend-line). Closing above the 1D MA50 is critical to the chances of a new multi-month rally as during the previous correction phase of 2021, when the price closed above the 1D MA50 on July 08 2021, XBDUSDT confirmed the end of the Bear Phase and the start of a very strong rally towards the 3.0 Fibonacci extension. Check the LMACD between the current Bear Phase and that of mid 2021, they are very similar and we may now be on the bottom process.
The bottom in the previous Bear Phase was priced just below the -1.0 Fibonacci extension. Currently that extension broke on a 1D candle wick on January 29 2022. If the price closes above the 1D MA50, it is more likely to see the new rally unfold than not. The 3.0 Fibonacci extension is around $2.6700, which represents roughly a +600% profit opportunity from the current levels.
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