Situation
1. Bitcoin holding 8k support and consolidating nicely.
2. DGB MACD bullish convergence developing
3. DGB RSI has plenty of room to move
Breakout Scenario (BTC stable or uptrend)
1. Break out of downward channel
2. Test previous resistance around 530sat
3a. Retrace to channel support (previous resistance). Resume upward movement.
3b. Break 530sat. Run up above 600sat (+20%)
4. Continue on bullish sentiment or enter new accumulation
Breakdown Scenario (BTC choppy or downtrend)
1. Rejection at channel resistance
2. Fall to MA; test support
3a. MA support fails... Test channel support...
3b. Supports hold, retest upward resistance
1. Bitcoin holding 8k support and consolidating nicely.
2. DGB MACD bullish convergence developing
3. DGB RSI has plenty of room to move
Breakout Scenario (BTC stable or uptrend)
1. Break out of downward channel
2. Test previous resistance around 530sat
3a. Retrace to channel support (previous resistance). Resume upward movement.
3b. Break 530sat. Run up above 600sat (+20%)
4. Continue on bullish sentiment or enter new accumulation
Breakdown Scenario (BTC choppy or downtrend)
1. Rejection at channel resistance
2. Fall to MA; test support
3a. MA support fails... Test channel support...
3b. Supports hold, retest upward resistance
Comment:
Waiting on BTC to make it's move. After BTC broke support into the 7800 range, ALTs are contracting.