Volume, volume... volume! That is what we need at the moment, the small buy or sell orders control the markets now. The believe has to get back in to crypto, that is also visible in BTC at the moment. The contracts make it so volatile, it is not possible for the average Joe to trade or to build up a nice investment.
Let's hope we hold this level of support... but judging by the overall market we might end up we a new buying opportunity to gain some more DGB.
Safe trading and don't FOMO!
/M
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I hope we can hold and test the upper side of the .618... RSI & Volume are down.
Otherwise brace for impact if we pass the .786
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The bounce of .786 just happend... we are barely holding on! No volume and the RSI is low...
Brace for impact to the 1.0 retracement!
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Okay... clearly there was no support in point (a) to make it bounce up to point (b)
The A-B-C is not out of play yet... lets see if it can gain some momentum up again... RSI is lower then lower... not to even look at the volume... All the volume is now in spain / ibiza / greece enjoying the sun...
On the other hand, with DGB price going lower... this could be happy hour!
/M
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Adjusted the dotted lines for the triangle and the A-B-C... Moving up a little bit with a high RSI already and almost no volume...
Did I mention we need volume in the overall market? Starting to think this could be a nice happy hour moment to buy more. BTC is fighting resistance at $7000 if it falls to $6500 we will for sure see DGB heading for the (C).
But I am not sure that $6500 BTC will be the bottom we need to head for the lunar base just yet, nasty times could be on our way. The Dark Ages are coming!
Trade safely and don't FOMO!
/M
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As seen in the RSI the lack of volume took out the A-B-C I plotted in the chart... clearly the chart was thinking less positive then I did. No problem! Re-adjust the plan and see what she will bring us today. Not many good at the moment...
I marked the red 'happy hour' box in the lower part of the chart to see if DGB will follow the trend she did prior to the 2017 bull run. Overall it is simply looking weak.
Let's hope everyone is on holiday now and the market will pick up the pace when we are fully rested and pump the volume.
For now... be careful! It might simply be beter to not look at the chart and enjoy the sun.
/M
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The 0.5 Fib clearly did not hold, busted right passed the .681... lets hope the .786 will give some support which has some back-up from the black support line.
Adjusted the 'happy hour area' a bit lower because of the major pull back in BTC yesterday. This is just the beginning of the real shake out... BTC is looking weak, the overall market is looking weak.
So get ready to buy one DGB and get two DGB! It will cheap!
Trade carefully and don't FOMO!
/M
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The bar is almost open guys! It appears to be weekend a bit earlier!
We busted through the .786 FIB gave a knock on the bar door and left... come on it is only Tuesday! Judging by the green line I was expecting a more controlled descending move down, not so violent as this. The red candles show the why! As seen on the RSI, that took a mayor hit. We might trade sideways here, but this is just the beginning.
Yes, it also appears the pattern I was watching has changed. It began looking like the pattern in Dec. breakout, but it's now looking more like the first breakout in April or May 2017 instead. I don't know, this may mess up my price predictions as well, not to mention it has gone a lot more sideways than anticipated? The good news is that it looks like DGB is ready to take the next leap. I'm still going to be looking for that 7 cents mark within the next couple of days, and then 9.5 cents 5-7 days later. Take that with a few grains of salt - lol Thanks Mark!
Krypto-Kid
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@Krypto-Kid, On second thought, it appears that you may be correct. This may not be a breakout at all. After a closer observation, there were three smaller patterns AFTER that first breakout in May, so this one could be the second smaller pattern after the Dec. breakout, which comes BEFORE the next breakout. In this case, I'll buy more when it comes back down to 2 cents. (Gulp)
markcantpark
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@Krypto-Kid, There is simply no volume... I fear this is just the beginning... time to buy more ;)