MichaelvandePoppe
Long

Digibyte Trade Idea 8 February 2018 (100%+ gains possible)

BITTREX:DGBBTC   DigiByte / Bitcoin
Digibyte Trade Idea 8 February 2018

The coin I've started with mid 2017 (at least, becoming more active in this market, fascinated by the big swings from coins).

What do we see on this chart? A lot of things!

- Retraced all the way down to even 70 sats             from the big jump earlier in 2017.
- Climbing back up, breaking the green zone --> red zone became resistance (big one) and currently retracing back.

Combining this with the following things:
- RSI getting close to the 30 zone --> oversold
- Volume spikes during the accumulation fase, we've seen that before.
- Lying on the 0.618 fib retracement level from the first run up.
- Lying on the 200 EMA too.
- Facing resistance pretty soon.

Expecting this one to jump to the red resistance zone pretty soon. So I'm definitely buying in this area and holding for a while.

First target: 600 sats            
Second target: 800 sats            

Depending on the patterns then + maybe some FA coming in to play + potentially breaking that level, could induce that we will see another big run up.

Will keep you posted about this one weekly.
Comment: Second possible way of trading is buying 50% now.

In case we can't break resistance (which shouldn't be a problem in my mind), we'll buy 50% in ATL zone of <200, lowering our avg. buyin.
Comment: Possible falling wedge in play too, making higher lows now.
update the idea
Reply
Seems plausible, what about the head and shoulders pattern?
+1 Reply
MichaelvandePoppe ArthurOliveira
@ArthurOliveira, not really strong in my opinion.
Reply
Could it be $1 ?
+2 Reply
Viktor1205 Fatih_Yavuz
@Fatih_Yavuz, easy
+2 Reply
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