TradingView
cryptomanna
Dec 20, 2017 4:35 PM

DGB/BTC - New Market Cycle Still Just Getting Started Long

DigiByte / BitcoinBittrex

Description

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.

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!
Comments
cryptomanna
DGB is coming up on the handle around 385. If we break through that resistance, moon time.
More