Digibyte swing trade targeting upper trend-line possible +57%
DGB has been one of the more bullish coins over the past couple of months. While BTC has formed a descending triangle since February, DGB has formed a series of higher lows. When DGB is bullish, it outperforms most coins. It is not unreasonable to expect DGB to at least make the upper trend-line due to:
- DGB support has held strong,
- Consistently remaining within a price range for the past few months,
- recent 51% attacks on less attack resistant coins - which in my view has proved DGB devs correct in selecting multiple mining algos,
- BTC has shown support and signs of strength in the past week or two, if BTC heads well north of $7000 that could well be a signal for strong gains in DGB to be unleashed (as DGB tends to follow BTC rises and falls consistently while also outperforming BTC).
- The last reason is speculative at this stage - I expect we are in the last few weeks of the bear market as I expect BTC to first head for $7500, and then, $8700, and possibly $10,500 later this year. If this scenario eventuates, this will take the brakes off altcoins and the market in general.
I am not a professional, a financial adviser, or your Mum so please do your own research and protect those funds. Thanks for viewing and good luck.
- DGB support has held strong,
- Consistently remaining within a price range for the past few months,
- recent 51% attacks on less attack resistant coins - which in my view has proved DGB devs correct in selecting multiple mining algos,
- BTC has shown support and signs of strength in the past week or two, if BTC heads well north of $7000 that could well be a signal for strong gains in DGB to be unleashed (as DGB tends to follow BTC rises and falls consistently while also outperforming BTC).
- The last reason is speculative at this stage - I expect we are in the last few weeks of the bear market as I expect BTC to first head for $7500, and then, $8700, and possibly $10,500 later this year. If this scenario eventuates, this will take the brakes off altcoins and the market in general.
I am not a professional, a financial adviser, or your Mum so please do your own research and protect those funds. Thanks for viewing and good luck.
Trade closed: stop reached