DGB/USD - Stages of a market cycle: Where DGB might sit(See my old idea with the other alternative channel option as well)
As much as I'd like to see Digibyte bounce here and slowly climb along the edge of the top parallel channel, I'm just not seeing the volume that warrants a lift. What I have learned is that what we want to see is less likely to happen than what we actually end up seeing happen.
BTC is still range trading, trying to break above 10k. If it doesn't manage to get and stay above that threshold but rather breaks down for a few months until the end of the year, it could take the alts down even further with it - Digibyte being one of those effected. If that's the case, I would expect to see Digibyte break down out of the previous parallel channel and beneath the current support line into what I've labeled as the "depression" buy zone ranging anywhere from ~ $.003 - $.008.
Then, based off of BTC's next halving cycle next year on May 15th 2020, things could start a healthy cycle again in the crypto-sphere. The past few major cycles succeeded the halving, NOT proceeded.
Either way, I believe DGB is at a crucial marker on the meme and it is important in my book to always look at 2-3 possible outcomes regardless of desires in order to actually perceive the end result and make wise trading/investment decisions and ins/outs during the entire process.
Dgbusd
DGB/USD - Time Based Fib, Conservative Elliot Projection 2020-21Log chart of DGB/USD mapped in a parallel channel with time based fibonacci markers. You can see that DGB is at a pivotal point. Shifts in momentum and direction happen shortly AFTER the fibonacci markers. Thus indicating another 3 or so months of consolidation and accumulation before ushering in a change of direction in December 2019/January 2020. Based on a conservative elliot 5 wave projection, I can see us easily hitting the previous ATH again summer 2020 (roughly June/July) and eventually pushing to $.30 on the last wave up. Dependent on market sentiment there could even be an extended 5th wave up to $1 or higher.
Now is just a waiting game. It won't happen quickly and the waves in between will be violent as investors and traders who got burned in the last cycle will be FOMOing and FUDing all over again. But, the trend is on its' way up for the long term in my opinion and will eventually see positive movement in due time.
Just my two digibytes.
Is DGB fueling for a massive explosion in 2020Longer fractal patterns on DGB could supply the fuel required to take it to extremely high levels.
DGB SleeperI don't think DGB gets enough attention despite the community's great work, so I'll go ahead and point out that it's up 44% since its low and has made a very clean set of higher lows along that journey. Worth a read if you haven't looked into it yet. Very trade-able price action if that's your thing and tremendous risk:reward setup if you think the project has long term potential.
DGB TESTING 200 MAback for a test at the 200 MA
the markets offering traders many opportunities in a long drawn out test of the trend change
DGB 350 MAa break of the 350 MA would ultimately confirm the bull run for DGB
head and shoulders pattern in the process of completing just under the 350 MA
DGB UPWARD SLOPING REVERSE HEAD AND SHOULDERSa powerful pattern is forming on DGB
bears failing to make new lows
breaking the neckline on an upward sloping H&S pattern could trigger rapid price increase
volume is exactly as needed for pattern completion.
a strong move is likely when the neckline is broken
DGB TRIGGEREDdigibyte experiencing large volume inflow
expecting this to break up through a reverse H&S pattern
could be visiting the the old highs in the coming days
not trading advice
DGBUSD Possible inverse head and shoulder pattern.If the bottom of the shoulder line can hold price we can be headed on the way up to making an inverse H&S pattern.
A break out from the top would complete the pattern and a strong run up could begin.
DGB PERSPECTIVE ON CURRENT SITUATIONafter many tests of the channel tops and bottoms
and a few failed breakouts/breakdowns
DGB is testing life outside the channel
with 50 DMA moving above down slope limits
DGB SIGNALING PATTERN CHANGEDGB price is signalling a return to higher trading range with 50 MA pushing through down slope limit
TRADE WAR = SAFE HAVEN IN CRYPTOCURRENCYdon't you love a good trade war?
China fines Ford $160 million for monopoly status
China initiates campaign to produce all of its own semi conductors
China warns tourists of traveling to USA citing violence towards foreigners
And I can't wait to see how many more punches to the gut the glorious leader of mmMerica will deal out for corporations
AAAAANYWAY. markets weakening with declining volume into tops. Crypto markets going opposite.
DGB 4th attempt at 18 MOVING AVERAGE OF LOWSDGB taking the 4th shot at breaking through the 18 month moving average of lows
I am thinking a higher probability of succeeding this time
DGB TESTING SUPPORT AT .015testing and confirming support at .015
this has been long term resistance
next resistance would be at .025
DGB possible scenario 6/1DGB will probably move to the downside and create
a double bottom prior to running up to the upper trend
line and attempting a break out.
Once the Breakout comes, it should go into a full bull run.
Considering BTC appears to be coming down I believe that the alts could follow suit,
optimum scenario would be for DGB to create an Adam and EVE double bottom
then attempt a full breakout after that. I think if a breakout is attempted sooner
it may fail to break out of the existing trend long term trend lines.
DGB 18 AVERAGE OF LOWS & HIGHSbounced off the 18 AVERAGE OF LOWS
HOLDING OVER THE 18 AVERAGE OF HIGHS
it very well may be bouncing up against .05 by the end of this candle
we shall see
DGB COMING UP FOR AIR - TESTING .015finally broke over .015
above 50 DMA
above 200 DMA
50 DMA crossing 200 DMA
looking to hold the .015 on the close today
Digibyte | $DGB - $DGBUSD | Are you ready for >$1 ?Exactly the same pattern from history. Will it repeat? If so we are above 1 dollar soon :)
WATCHING DGB 50 MA FOR A BREAKOUT watching for DGB to break the 50 MA
next leg up could last for weeks
