DGB-BTC killer hodl for 2018, 189% ++ profit potentialHowdy, let’s take a look at one of my favorite picks for 2018, Digibyte (DGB).
Fundamental drivers:
Marketing Overhaul Begins Feb 1: www.reddit.com
Details:
With over 100,000 full nodes (compared to BTC's 11,000), Digibyte is highly decentralized. Digibyte uses five separate mining algorithms to ensure mining decentralization. It’s also one of the oldest blockchain projects out there (2013), with early SegWit implementation. It offers super fast transactions.
For those who know da woo, Clif High’s web bots have found hints of a “minor mania” for Digibyte in the summer of 2018. Considering the man’s accuracy up until now, I’m more than happy accumulating DGB at these current levels. Now’s a killer time to be shopping.
Official website: www.digibyte.io
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Analysis:
DGB has respected a global Fibonacci range ever since the enormous run-up in the summer of last year. I would argue that it is now in a good range to begin some harmonic kind of movement, but first let’s establish some congestion zones and look at the Ichimoku.
The Ichimoku cloud is lining up almost perfectly with this Fibonacci range.
The Higher lows in price and lower lows on the RSI indicate hidden bullish divergence, while declining volume and a symmetrical triangle forming with the 50 and the 200 MA are creating a solid base for a sort of bull flag. It could be a pennant and will need more time to consolidate. The Ichimoku cloud has flipped bullish just as there was a golden cross of the MA’s a week or so ago. Here I see a pattern similar to some other reputable projects out there — en edge-to-edge cloud break, followed by a retracement to the top of the cloud, and then the establishment of a new price floor. Bulls would be careful, however, as it is beginning to look like a head and shoulders pattern. Now all of this may be difficult to see at once (unless you’re as bugged out as I am), but I also see what could be a bullish pennant forming in the RSI. Bollinger bands included to show how tight the price is getting.
Here’s the triangle using the 200 MA as the base. Long term I see a lot of upside for DGB, though it may end up consolidating for many months so I’m not so interested in it for swing trading. Below are your levels indicated by blue horizontal lines.
These targets are primarily based on the Ichimoku, the global Fibonacci range, and previous congestion zones discovered around those areas.
Entry: 0.00000355 - 479
Target 1: 0.00001074
Target 2: 0.00001383
