DGBBTC : 3 scenarios on table + indicators to watch
Hi guys,
3 scenarios are on the table from what i see and understand.
A) original post - 2 lvl 1-5 EW. this scenario doesnt subscribe to be a part of a major pattern like i highlighted in the past post. We take for granted that MACD 1D gonna bounce on the signal as DGB behave like this (and almost all charts too). This could announce the final wave 5, last impulse, then exhaustion, then retracement.
B) simple 1-5 EW with an extended fifth. Taking for granted that we are already in a retracement of those waves. This scenario subscribes in a bearish crossover of the MACD on the signal.
C)last post - this one subscribe these waves in a major pattern. According to the fibo ratio it could indeed be in play. On the other side, we have saw DGB make a sharp ABC retracement which can be seen in the 4h easily. It means for me that we have something underliying right here like a 3-ABC-4 or a 5-A(ABC)BC
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This simple quick look will help you like it helped me many times.
The MACD 1D doesnt look good. But if you are experienced and looks for fractals that could mean 2 things :
-MACD bounce on the signal which resume the rally. Watch the histogram, it could simply be a quick 5th wave then retracement.
-MACD bearish crossover the signal. This could mean that we will retrace until we find a good support to sit on. which noramlly mean the price lvl of the anterior wave 1-2
3 scenarios are on the table from what i see and understand.
A) original post - 2 lvl 1-5 EW. this scenario doesnt subscribe to be a part of a major pattern like i highlighted in the past post. We take for granted that MACD 1D gonna bounce on the signal as DGB behave like this (and almost all charts too). This could announce the final wave 5, last impulse, then exhaustion, then retracement.
B) simple 1-5 EW with an extended fifth. Taking for granted that we are already in a retracement of those waves. This scenario subscribes in a bearish crossover of the MACD on the signal.
C)last post - this one subscribe these waves in a major pattern. According to the fibo ratio it could indeed be in play. On the other side, we have saw DGB make a sharp ABC retracement which can be seen in the 4h easily. It means for me that we have something underliying right here like a 3-ABC-4 or a 5-A(ABC)BC
----
This simple quick look will help you like it helped me many times.
-MACD bounce on the signal which resume the rally. Watch the histogram, it could simply be a quick 5th wave then retracement.
-MACD bearish crossover the signal. This could mean that we will retrace until we find a good support to sit on. which noramlly mean the price lvl of the anterior wave 1-2
Trade active:
Bearish crossover spotted. Still no impact visible in price, price remain at 600 sats lvl :
Why bearish crossover and no direct drop ? When you be use to MACD the bearish croosvers are not sharp as in the negative spectrum. See the green square, DGB made the same event in the past and its just when MACD made a bearish centerline crossover that it really impacted the price. So keep your eyes on the MACD 4H to know what are the probabilities of going lower. I have highlighted the support and an ABCDE ascending triangle that could complet the count.
Why bearish crossover and no direct drop ? When you be use to MACD the bearish croosvers are not sharp as in the negative spectrum. See the green square, DGB made the same event in the past and its just when MACD made a bearish centerline crossover that it really impacted the price. So keep your eyes on the MACD 4H to know what are the probabilities of going lower. I have highlighted the support and an ABCDE ascending triangle that could complet the count.
Comment:
to be clear : bullish count remains. but too much extension in time is not that good. PLease note that we often see bullish wick at point E (A short/sharp retracement immediatly bought back)