Digibyte was another coin where emotions went high and people thought would be Bitcoin 2.0; the markets dont work like that. Whoever chased it on this parabolic pump or whoever bought it on the way down thinking they had a crystal ball deserves to lose honestly. We can see the cycle is completing and has returned to acceptable accumulation levels. What we can notice immediately is DGB has a good chance to respect prior top before the breakout.
On the 1hr we can spot that it is attempting to breakout of cloud resistance and find support above. The first attempt failed however we found support on the 618 which is a bullish sign and are now on round 2.
4hr shows us still under the cloud which would be the next battle. I would be setting buys defending the 618 as most likely people will get impatient and out of the trade because these alts will take a while to breakout and start impulsive moves. Since we arent wizards we cant predict a bottom, we accumulate smartly when we realize we are near it. The market isnt active yet nor has the volume to actively trade. Accumulate and average down for the next wave.
On the 1hr we can spot that it is attempting to breakout of cloud resistance and find support above. The first attempt failed however we found support on the 618 which is a bullish sign and are now on round 2.
4hr shows us still under the cloud which would be the next battle. I would be setting buys defending the 618 as most likely people will get impatient and out of the trade because these alts will take a while to breakout and start impulsive moves. Since we arent wizards we cant predict a bottom, we accumulate smartly when we realize we are near it. The market isnt active yet nor has the volume to actively trade. Accumulate and average down for the next wave.
Comment:
DGB in the IDEAL buyzone for accumulation between 90-140 and approaching the end of a downtrend.