My first crypto coin I ever bought was $dgb.
And therefore I still like to track it.
It seems there is finally some good news for DGB holders on the chart:
- the price found support on the price levels of before the enormous price peak.
- the last correction wave pattern seems to be in it’s last part, or even has ended already.
From here there seems upward...
We are in this downwards move from the top and when the fractal level is broken the short position (red line) will be extended.
A first attempt took place but didn’t closed below, but some resistance is what can be expected at this level.
Note: when/if it breaks, a short free fall could follow.
On the short term the dow retraced 50% of the first leg down and could look up the 61.6% level.
What the chart currently shows is that there is much more appetite in the move down then there is going up.
As long as this remains I remain on the bearish side.
So far no reason to change the strategy; trend is down and we are back at the 50% retracement level of the first leg down.
When the red line (fractal level) is broken it’s a signal to accumulate more shorts.
The previous idea on the Dow made it possible to get in short with perfect timing.
From here onwards I will be looking to add short positions evrytime the fractal levels are broken (red line).
For agressive traders the current 50% retracement level could be considerd as a trigger to extend positions.