DigiByte (DGB) Another Bullish Setup
Hey friends hope you are well and welcome the new update on Digibyte coin.
The price action of DGB formed a bullish Crab pattern and started a bullish move from the potential reversal zone of this Crab:
In my previous article we have already seen that on monthly chart the priceline of Digibyte cion is also moving in a handle of a Cup & Handle pattern. If the priceline start more powerful bullish move from here then after breaking out the handle the price action may try to break the resistance of the Cup at 0.00000318 btc.
Currently on daily chart the priceline of DGB is at the support of an up channel. The 200 simple moving average is also moving up aggressively to provide the support to candlesticks. The Directional movement indicator is showing bullish signals as the DI+ is above the DI-.
In meanwhile at the support of the channel the price action of Digibyte also has completed bullish harmonic move and entered in potential reversal zone. This move can be seen on two-day chart. The pattern is formed in US Dollar market and the Bitcoin market as well. Below are the patterns.
Harmonic move in US Dollar market:
The priceline of Digibyte ( DGB ) has formed bullish Gartley on the 2-day chart.
The targets as per Fibonacci sequence of Gartley are:
Potential reversal or buying zone: $0.02476 to $0.02276
Fibonacci projection or sell zone: $0.02634 to $0.03023
Harmonic move in Bitcoin market:
The priceline of Digibyte ( DGB ) has formed bullish Gartley on the 2-day chart.
The targets as per Fibonacci sequence of Gartley are:
Potential reversal or buying zone: 0.00000231 to 0.00000214 btc
Fibonacci projection or sell zone: 0.00000244 to 0.00000277 btc
Conclusion:
The priceline has very good support of up channel and the 200 simple moving average as well. The completion of bullish Gartley at these supports strengthens the expectations of bullish momentum soon. However we should use the potential reversal zone of the bullish Gartley move because if this PRZ level will be broken down then the priceline may move more down for the completion of bullish Butterfly.
The price action of DGB formed a bullish Crab pattern and started a bullish move from the potential reversal zone of this Crab:
In my previous article we have already seen that on monthly chart the priceline of Digibyte cion is also moving in a handle of a Cup & Handle pattern. If the priceline start more powerful bullish move from here then after breaking out the handle the price action may try to break the resistance of the Cup at 0.00000318 btc.
Currently on daily chart the priceline of DGB is at the support of an up channel. The 200 simple moving average is also moving up aggressively to provide the support to candlesticks. The Directional movement indicator is showing bullish signals as the DI+ is above the DI-.
In meanwhile at the support of the channel the price action of Digibyte also has completed bullish harmonic move and entered in potential reversal zone. This move can be seen on two-day chart. The pattern is formed in US Dollar market and the Bitcoin market as well. Below are the patterns.
Harmonic move in US Dollar market:
The priceline of Digibyte ( DGB ) has formed bullish Gartley on the 2-day chart.
The targets as per Fibonacci sequence of Gartley are:
Potential reversal or buying zone: $0.02476 to $0.02276
Fibonacci projection or sell zone: $0.02634 to $0.03023
Harmonic move in Bitcoin market:
The priceline of Digibyte ( DGB ) has formed bullish Gartley on the 2-day chart.
The targets as per Fibonacci sequence of Gartley are:
Potential reversal or buying zone: 0.00000231 to 0.00000214 btc
Fibonacci projection or sell zone: 0.00000244 to 0.00000277 btc
Conclusion:
The priceline has very good support of up channel and the 200 simple moving average as well. The completion of bullish Gartley at these supports strengthens the expectations of bullish momentum soon. However we should use the potential reversal zone of the bullish Gartley move because if this PRZ level will be broken down then the priceline may move more down for the completion of bullish Butterfly.
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