DGB testing bottom of log channel & threatening a h&s breakdown

Not financial advice but I’m accumulating small amounts of digibyte in this zone because although its totally possible we can breakdown from the rising channel DGB has been in on the log chart I think its more likely we continue to stay in the channel for longer. Also the head and shoulder target while very possible currently seems like the lesser probability than continuing to bounce up from the wedge. Of course if bitcoin decides to test 14k we may indeed see this h&s breakdown and reach its full target but for now I think a fakeout and then a rebound back up is the slightly more probable scenario. Because of that I’m willing to accumulate a small amount here at the support of the bottom trendline of the channel in hopes it will do some sort of bounce. Market looks very bleak, fear and greed has been setting new records but I’ve always held the strategy that that’s the best time to be be buying so I’m going to do so but very cautiously and very meager amounts. If it doesn’t pan out no big loss. *not financial advice*

Comment:

There is bearish confluence for the head and shoulders to trigger as the breakdown target would take us to a zone where a potential double bottom could play out…I wouldn’t be shocked if price action on the final capitulation candle sent a super short lived wick down to that zone, if so this would likely only be if bitcoin also sent a brief wick down to the 14k area. If it bounced quickly enough it could still close a candle body inside the channel.

Comment:

DGB doing a fantastic job so far of holding the bottom trendline of the white channel as support…would not be a big risk if I chose to accumulate here especially if we keep closing above the bottom white trendline. *not financial advice*

Comment:

It’s going to have to choose going above the red neckline or below the bottom white trendline witching the next monthly candle or 2.