Updated
Digibyte is almost ready for some Big Move.
Hey, I am back with another technical analysis, this time looking at Digibyte.
Okay, so I was just looking at almost every crypto and found this interessting due to this nice pennant that has occured.
Pennants pretty as this one suggest some big move is about to happen, pennants are short term patterns up to 8 weeks which is exactly the lenght of this one.
So what does Indicator says, will it be bearish or bullish move?
Well, overall RSI is pretty high whole time even when Bitcoin was falling, notice how each time RSI is higher than 70 for a month, than it most times drops under 70. But about our situation DGB is looking good in demand, found support at 44 level, which is a good sign, lets see how this will evolve.
Moving on the MACD, until today the sellers are dominant for 30 days, can this trend continue for so long ? Well it looks like the sellers are slowly losing their dominant position and buyers are coming back to the scene. MACD about to give buy signal, lets see how strong the impulse will be.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Digibyte somewhat clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
Okay, so I was just looking at almost every crypto and found this interessting due to this nice pennant that has occured.
Pennants pretty as this one suggest some big move is about to happen, pennants are short term patterns up to 8 weeks which is exactly the lenght of this one.
So what does Indicator says, will it be bearish or bullish move?
Well, overall RSI is pretty high whole time even when Bitcoin was falling, notice how each time RSI is higher than 70 for a month, than it most times drops under 70. But about our situation DGB is looking good in demand, found support at 44 level, which is a good sign, lets see how this will evolve.
Moving on the MACD, until today the sellers are dominant for 30 days, can this trend continue for so long ? Well it looks like the sellers are slowly losing their dominant position and buyers are coming back to the scene. MACD about to give buy signal, lets see how strong the impulse will be.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Digibyte somewhat clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
Note
10% Up already.Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.