Today I made an update on Youtube detailing 3 coins i felt were ready for a new cycle. DGB was on that list. With that being said, let's dive into this and see what is in store for us!
Taking a look at the daily chart, We have finished the 3 step process I look for when finding a profitable market cycle. What you want to see first is always Capituluation. Capitulation happens after the bear crash after the parabolic trend has broken. With Alts, this usually means at least a 75-85% correction.. Capitulation occurs once the retail investor has sold all his positions he accumulated during the parabolic run up. These are the investors that lose! Next comes Accumulation/Distribution. Usually this is where you start to see people taking positions and laddering in after the crash. Many think this is the bottom however, its often not that simple.. Lastly, we have the final sell off. This occurs once support is broken and we fall for one more lower low. This is where smart money takes large positions before the eventual hype cycle to follow!
After analyzing DGB's cycle its becoming clear to me we are at the final sell off thats ready to spring load this market to new ATH's. Pack your bags fam, this ones ready to rip!
God Bless, JolleyCrypto
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2017 cycle playing out identically to the current one in 2019. Will history repeat itself?
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Thus far history is repeating itself again. This is the perfect retrace to be accumulating before the coming hype cycle thats to follow.