$DGB Never Really broke out like everyone is saying...
Support / Resistance
If we re-draw the resistance line to line up with the peak of the binance-listing-induced pump candle, we see that the pennant really held that line, despite a tiny failed break-out at 250sats.
MACD
Now, looking at the MACD signal line, one has to wonder if it's going to continue bouncing off of the MACD line, or if it'll be more reminiscent of earlier on in the pump where the signal dips below the MACD line for a couple days. The black candles we are seeing from the past couple days evoke a signal line that has more of a downward trajectory that indicates as much.
Overall, I think it's only a matter of time before $DGB breaks out of the obviously #BULLISH pennant shape. The question is whether there will be another sell-off down to 200sats, or even a bull trap that breaks down out of the pennant towards 180sats before the next pump.
With crypto, we see this happen often where the textbook shapes never hold, and a sell-off shakes out the last of the weak hands before the next surge. Please let me know your thoughts on this. I want to understand what you think the probability of any of these scenarios might be.
If we re-draw the resistance line to line up with the peak of the binance-listing-induced pump candle, we see that the pennant really held that line, despite a tiny failed break-out at 250sats.
MACD
Now, looking at the MACD signal line, one has to wonder if it's going to continue bouncing off of the MACD line, or if it'll be more reminiscent of earlier on in the pump where the signal dips below the MACD line for a couple days. The black candles we are seeing from the past couple days evoke a signal line that has more of a downward trajectory that indicates as much.
Overall, I think it's only a matter of time before $DGB breaks out of the obviously #BULLISH pennant shape. The question is whether there will be another sell-off down to 200sats, or even a bull trap that breaks down out of the pennant towards 180sats before the next pump.
With crypto, we see this happen often where the textbook shapes never hold, and a sell-off shakes out the last of the weak hands before the next surge. Please let me know your thoughts on this. I want to understand what you think the probability of any of these scenarios might be.
Comment:
Looks like $DGB will re-test the support line. Remember: more consolidation only means more upside, so beware the bear trap!
Comment:
$DGB breakout is real. #HODL