Keep an eye on the formation of higher highs and higher lows. TD sequential looks good for a bullish reversal back to where it was earlier. I'm seeing a lot of accumulation and the lower cap on this alt causes sudden volatility. This one has some woowoo in it ;)
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target 744 but only because I expect resistance to knock it down. Then I'm jumping right back in. I expect this to reach 1000 relatively soon.
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Just realized I accidentally put up the USD chart. I'm referring to the BTC chart.
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RSI looks healthy, may be a bit correlated with BTC/USD price action but the DGB/ETH price action looked healthy as well.
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Using a 2D chart to reveal a big red cloud. Next edge-to-edge break? I'm expecting resistance around congestion zones depicted by the blue horizontal lines. Targets are listed on the Y axis.
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Ooh I missed that congestion area. A little unsure about my next target, it will likely break past 1000 before some retracement.
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Oh wait, I did call it, just wasn't my next target. Missed my own resistance level. *flex flex*
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Bull flag and target price adjusted for expected large breakout to the upside. I will also look for a breakout of the triangle in the RSI.
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Target chosen for expected congested area.
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A correction developed a new leg of support. It may consolidate lower but I'm leaning more towards this scenario:
Watch for a volume spike in the RSI triangle breakout first I'm expecting not only a recovery but a full-on breakout to the upside to my next congestion line
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DGB back above the bullish flag, which I extended out a bit.
If we get a bullish golden cross on the daily over the next day or two, that's going to be a very strong confirmation for a move upward.
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Bad news bears today. The market overall is descending with BTC, another clue that correlations are changing a bit. People seem to be moving into fiat and alternatives such as Bitcoin Cash during dips like this. Notice DGB doesn't have much volume and yet it is falling anyway.
Look at the triangles I fitted over the chart, adjusted for the new price action.
Looks like the shorter term triangle support was broken and we're headed for a more multi-day support line. It may get deep into the cloud before we bounce again. I'll admit that DGB has turned out to not be a great intraday option ever since the last pump. I'm still very bullish for the long term, I'm just not so sure about the shorter term.
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Bingo there's the volume, what a cool thing to come back from dinner to :D
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This is old analysis but useful for educational purposes. The bull run didn't happen as expected, I sense that this will continue to consolidate for some time longer but in the long run will see significant gains. See my newer publication on DGB.
Bingo there's the volume, what a cool thing to come back from dinner to :D
Kotzaaa
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Worth jumping on now? Cliff High suggested a very strong month for DGB due to linguistic trends and the tech behind DGB coming to the forefront of media attention.
Thoughts?
RotiWokeman
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@Kotzaaa, Those were my thoughts. Patience is key here, but I'd recommend shoring up your stops if there are any big spikes.