Digibyte flirting with 2018/2019 low - support and bounce?
If BTC's expected grind down continues, DGB is due to hit its 2018/9 Low. This will likely occur in the next two weeks and with the Stochastic RSI primed this event brings with it two distinct possibilities:
Either way, it would not be wise to enter a trade until we see how DGB responds to the 2018/9 low... but should a bounce occur, a well-timed entry could prove very profitable indeed.
Remember: always always have a stop-loss; a trailing one if possible.
Links below to the combined RSI/Stochastic RSI and 50/100/200 Moving Average indicators.
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
- DGB bounces back up 50-70%, such as the recent Nov and Dec bounces
- DGB cannot find support and sinks lower, likely at least 20% down, creating a new 2018/2019 low
Either way, it would not be wise to enter a trade until we see how DGB responds to the 2018/9 low... but should a bounce occur, a well-timed entry could prove very profitable indeed.
Remember: always always have a stop-loss; a trailing one if possible.
Links below to the combined RSI/Stochastic RSI and 50/100/200 Moving Average indicators.
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
Comment:
Well done if you took this: over the 17 days since I posted this Digibyte rallied an incredible 60%. Looks like the current drop in BTC is reloading DGB for another possible bounce soon.
