HardFork_Cafe
Long

Digibyte (DGB/USD) long term forecast / 2200% potential!

POLONIEX:DGBUSD   DigiByte / US Dollar (calculated by TradingView)
We're about to finish the 4-wave of the elliott wave theory when we break trend and support (purple trendline ) and enter the green accumulation zone preparing for the next wave up (wave 5). This means a 30% drop in price from where we are now in the short term.
Then I expect we're going to see another massive bullrun. Targets depending on the hype in the bullmarket, thats why we use targets to scale out and move our stops higher when we take off to protect our capital.

Accumulation zone
Between 0.02 usd and 0.015 usd

Long term targets
  • Target 1: last ATH - around 0.13 usd
  • Target 2: Ext fib levels 2.618 wave 1 & 1.618 wave 3 - around 0.21 usd
  • Target 3: Ext fib level 3.618 of wave 1 - around 0.29 usd
  • Target 4: Ext fib levels 4.23 of wave 1 & 2.618 of wave 3 - around 0.34 usd

I would like to hear your comments and thoughts.

** I used elliott wave theory. I know that the 4 wave can't bust the 1 wave but i've seen it all over in crypto and they still work out fine. No time predictions only targets. This is not financial advise just my own thoughts. **

Thank you
Comment: Please be aware of two retrace options. I highlighted them here:

Another possibility is a quick breakout on upside before going down; don't let them fool you!
Trade active: DGB broke the purple trendline and is forming a hook to go lower in the accumulation zone.
Comment: We're nearing the bottom of accumulation zone 1 (the green 0.618 level). Let's see if it holds.
Comment: Short term forecast is updated. We're in the blue acc zone with a possible inverse H&S in the making.
Check:
would u like to revalue your "anything below 5900" sentence now?
Reply
@Recluse82, My fib targets that are still there apear between 3200 and 1700 usd... we may see the bottom soon OR we see a retrace to the upside to get more buyers so the bears can sell more. This aint over yet!
Reply
This is incorrect. Elliot wave rule is that WAVE 4 CAN NEVER ENTER THE TERRITORY OF WAVE 1.
Reply
Soulace Soulace
@Soulace, Just Saw that you posted that, but then is it really EW if youre not following the rules. I think you are reaching in your count. Everything is dependent upon BTC anyway and I just cant see BTC breaking down from here...any way time will tell.
Reply
@Soulace, Thank you for your comments. I know the rules must be followed, but crypto is different.. can't help it :)
Depending of how you count the ABC-correction of BTC it is possible that BTC did not finish it's 5th wave down of C correction-wave Elliott wise, because the 5th wave did not bust the 3 wave if you know what I mean...



But then again, this is crypto so maybe this is the bottom ;-)

Time will tell mate!
+1 Reply
Soulace HardFork_Cafe
@HardFork_Cafe, I believe the bottom is in for btc, maybe we see a Short flash crash to 5900 or 5200 but will get quickly rebought... But imo I believe the bear szn is finished.
Reply
@Soulace, It still could go either way, but a lot of alts are bottomed out so it looks like the market is ready again. Any number below 5800 for btc/usd will do to finish the wave and get ready for the next cycle.
Reply
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