DigiByteLong
DGB Falling Wedge
Updated
This idea is valid if and only if Bitcoin 0.36% has completed its correction and these conditions are satisfied:
1. The 50 and 200 day exponential moving averages do not cross bearish
2. Strong buy volume is observed for DGB -1.45% and BTC 0.36%
3. BTC 0.36% and DGB -1.45% break out of their downtrends and show irrefutable signs of recovery
4. The blue support must hold
The following daily indicators support upward movement:
a. Stochastic RSI
b. RSI
c. Madrid Sinewave
d. Momentum
This analysis has the price returning to the previous all time high by reaching the 1 Fibonacci level. This TA does not consider timing. Rather, it's about price direction.
It is very important that you do not trust any of my ideas. Do your own research. This is not investment advice. All of my posts are for experimentation only to see how the price behaves.
Final comments:
I've posted bullish and bearish scenarios for the sake of objectivity. It is far too easy to become blinded by greed or personal objectives. There are mixed signals on different time frames which support two different outcomes. Therefore, it is best to be prepared for either a bearish or bullish market.
1. The 50 and 200 day exponential moving averages do not cross bearish
2. Strong buy volume is observed for DGB -1.45% and BTC 0.36%
3. BTC 0.36% and DGB -1.45% break out of their downtrends and show irrefutable signs of recovery
4. The blue support must hold
The following daily indicators support upward movement:
a. Stochastic RSI
b. RSI
c. Madrid Sinewave
d. Momentum
This analysis has the price returning to the previous all time high by reaching the 1 Fibonacci level. This TA does not consider timing. Rather, it's about price direction.
It is very important that you do not trust any of my ideas. Do your own research. This is not investment advice. All of my posts are for experimentation only to see how the price behaves.
Final comments:
I've posted bullish and bearish scenarios for the sake of objectivity. It is far too easy to become blinded by greed or personal objectives. There are mixed signals on different time frames which support two different outcomes. Therefore, it is best to be prepared for either a bearish or bullish market.
Note
Looking good so far. Let's see what happens.Note
damdamm,Yes, this is true.
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