DGB/BTC - New Market Cycle Still Just Getting Started
DGB/BTC has confirmed bullish movement after correcting for several months. Right now it is forming a potential massive cup and handle pattern. Cup brim target ~415 sats, with a possible .5 or .618 fib retracement to form the handle's base (~290 or~250) before the heavy price action really begins.
If it were to complete this pattern and break out above 415 sats I would follow the fib retracement levels as well as past trending support/resistance levels for guidance as where to take profits. I'm thinking something like the following...
1PT at ~575
2PT at ~800-900
3PT at ~1385 (this target is conservative as the last wave could actually push beyond this to the next fib level ~1700+)
...and ultimately a ride up to and past the ATH sometime next year.
If it were to complete this pattern and break out above 415 sats I would follow the fib retracement levels as well as past trending support/resistance levels for guidance as where to take profits. I'm thinking something like the following...
1PT at ~575
2PT at ~800-900
3PT at ~1385 (this target is conservative as the last wave could actually push beyond this to the next fib level ~1700+)
...and ultimately a ride up to and past the ATH sometime next year.
Comment:
DGB hit ~385 last night, a little under the ~415 target and has been selling off rapidly this morning. This could easily be the start of the handle. We've already hit the .618 retracement at ~285, and could very likely see the .5 level at ~250 in the following days. After it gets oversold, it should spring back to ~385, consolidate for a day or so and then launch above ~575 sats and land somewhere around .10 USD. This process can be accelerated by bots and FOMO so you will have to be a ninja in getting your entries and timing your sells.
Comment:
DGB is coming up on the handle around 385. If we break through that resistance, moon time.
Comment:
aaaaannndd, its gone. 600+ sats. that happened quick!