DGB
DGBUSDT 1H long setup; Bouncing from bottom of parallel channelTA explained
DGB forming a reversal pattern at the bottom of the parallel channel. Using a tight stop here in case it isnt able to reverse after all.
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Trade setup
Best entries: 0.12675 - 0.13090
TP1: 0.14274
TP2: 0.15572
TP3: 0.16942
SL: 0.12091
RR: 5.21
Max leverage: 2x
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Trade at own risk (of course)
Only trade what you can afford to lose (of course)
DGB ready for 300% explosion?The market has been exploding everywhere today.
Was scanning through some charts and stumbled on DGB/USDT
Full disclosure I'm not in DGB and this is the first time looking at the chart....
BUT
This coin looks primed to explode.
If it can break out of this triangle it can hit .20 which is nice. On the macro though a move out of this triangle would likely pull it out of a larger wedge it has been forming and should be the start of it's move to .57!
Nearly 300%... Those are real gains right there.
DYOR on the coin though.
Coinmarketcap shows a market cap of 3B and is ranked #65. So relatively good market cap size and more established looking coin.
A trade set up is there. Used a real tight stop loss as a break below the triangle would not be good.
Let me know what you think!
BINANCE:DGBUSDT
Digibyte/Bitcoin big area of concernIt's becoming very clear that Digibyte is in fact one of the most undervalued cryptocurrencies in the market. Against the US Dollar it is looking good. Against Bitcoin there is an area of concern and big obstacle that DGB needs to overcome in order to reach new highs. This is area is the 300-315 Sat mark. As you can see historically, this line was once a support, which eventually failed and became a big line of resistance. Just recently, DGB failed to break this resistance and is going to attempt to break through once again.
From an elliot wave perspective, it looks like we are heading into the 5th wave of this cycle, which hopefully will be the one that breaks through. Don't be alarmed if we end up hitting an ABC correction after wards. But so far, this area of concern is going to be something to keep and eye on. Once we see DBG flip this resistance to a support, enter longs.
Digibyte about to have a key breakoutDGB is one of the older coins and has been lagging significantly. Definitely one linked with SC & DOGE which also did a full cycle vs BTC. Look very nice and healthy and in my opinion once it closes above 200 sats it could easily go much much higher. It has a pretty big fan base and I am surprised it hasn't pumped yet given that many coins that have similar 'prices' (100-300sats). Given that even DCR has spiked higher, DGB should start rallying soon or it might be a sign of weakness/
DGB/BTC testing 230 sat lineNoting the price movement action is increasing, DGB now testing the support line of 230 sat before it can try penetrating the 200MA line. Thank to market correction, this can be easily realized for a bull forward.
DGB is created as a fork of Bitcoin (BTC). Next TP roughly at 472 sat.
Give a support using BAT and BRAVE browser for my view, it can helps many people..
Similar pattern but different coin's: XRP v DGBThis it gets more and more interesting each day.
Looking at these two charts side by side it shows how XRP & DGB are starting to have a similar path or trend. By the looks of it, they both are consolidating before a small bull run.
Just a thought. Seeing these charts makes me wonder if, these ALT coins have the possibility to be leading the market someday. It looks like they do a grate pair though and have all it needs to get there. Isn't it?
No1: We all know that DigiByte is a fully decentralized coin and it's blocks are mined every fifteen seconds (compared to the Bitcoin blockchain, which produces blocks every ten minutes. This, makes DGB 40x faster than Bitcoin. Currently, DigiByte can handle 560 transactions per second as Bitcoin can hold only 7 transactions per second.
NO2: XRP on the other hand as we all know, is centralized with a ecosystem build to enable extremity fast and cheep transactions. This gives a check to both DGB and XRP.
Only the time will tell, I guess. Till then...Happy run you crazy kids!
Digibyte USD Bearflag possibilitiesLast week, my Digibyte idea became invalidated due to the huge market sell-off. What was once a nice looking Bullflag and/or sym. triangle quickly became a bear flag on the 4 hr timeframe, as shown in this current chart. We must wait to see if the bearflag is breached to the upside.. or if it breaks through to the downside. If broken to the upside, then target is previous high. If broken to the downside, then the green trend line is the next support. However, we must wait to see how this flag plays out.