Digibyte, possible uptrend?
Hello fellow traders,
Not gonna lie, I'm big fan of Digibyte, huge network, one of the fastest ones, along with XRP it actually could have some use in real world, but that rarely plays a role in crypto culture considering folks buy these dog coins.
I think this formation you see could be seen as Inverse Head And Shoulders pattern.
They're rarely perfect so you can see it's a bit angled, but along with symmetrical triangle that got created I think I'll take a shot and put my entry if it breaks above yellow line.
Symmetrical triangle if you connect highs and lows, you'll get the pattern, symmetrical triangle can be both bearish and bullish, however we gotta look at volume. You can see that volume is much higher when coin's doing an short term uptrend in comparison with short term downtrends.
So if you'll consider entering take care of breaking yellow line and that it's broken with solid volume.
Trade safe guys,
This is just an idea, far from financial advice.
Always do your own research and learning.
If you like the idea, hit that follow button for occassionally more ideas.
Not gonna lie, I'm big fan of Digibyte, huge network, one of the fastest ones, along with XRP it actually could have some use in real world, but that rarely plays a role in crypto culture considering folks buy these dog coins.
I think this formation you see could be seen as Inverse Head And Shoulders pattern.
They're rarely perfect so you can see it's a bit angled, but along with symmetrical triangle that got created I think I'll take a shot and put my entry if it breaks above yellow line.
Symmetrical triangle if you connect highs and lows, you'll get the pattern, symmetrical triangle can be both bearish and bullish, however we gotta look at volume. You can see that volume is much higher when coin's doing an short term uptrend in comparison with short term downtrends.
So if you'll consider entering take care of breaking yellow line and that it's broken with solid volume.
Trade safe guys,
This is just an idea, far from financial advice.
Always do your own research and learning.
If you like the idea, hit that follow button for occassionally more ideas.
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