DGB DigiByte Bonfire Squared with hidden prediction indicators Complicated at first but over time it becomes easy to read. Along with the squaring feature Bonfire indicators give advanced data and patterns to reduce risk in trades.
DGBBTC trade ideas
DGBBTC, possible Trend Idea!Think of a corrective rise as conservative approach, expecting blue dotted lines to get hit.
Potential Problems for DGBDGB has been trading in this ascending wedge against BTC for a while now. Volume has decreased significantly since entering the channel. Time based Fib trends have been accurate so far and I think DGB will slowly gain market cap until late September where I think it will get rejected off the resistance and not be able to hold its support for a potentially nasty sell off.
DGB DigiByte Bonfire Squared plus fundamental reasoning! I'm Bullish DGB till the end (long term). DGB is fighting hard to stay above the 45 mean (square). I'll be watching these levels and pivots closely in the future. Breaking and staying above the 45 line will be very telling. This chart shows many failsafe options depending on your risk limits. As I mentioned, I am very bullish long term for DGB but will take advantage of any and all obvious "oversold/ overbought" opportunities with a percentage of my bag.
CONCEPT : After squaring (45 degrees) the price to my objective interval, drawing horizontals (levels) to touch the bottom and top of each square has been a huge advantage for me the past year or so. The probability of pivots near or on the vertical sides of boxes should be on the winning side if you read the chart pattern correctly
Price action and volume is showing us a new Digibyte than we have seen in the past. Sustaining pumps and rebounds quicker than before. This is why it is important to watch the current health of DGB when its on the (45) line like this. Big moves by Bitcoin have not altered its trajectory as much as other coins. That to me is a sign of strength. From a fundamental standpoint, at .03 USD it's easy to see why many are catching on to this coin with all of it's truly decentralized features, amazing apps/wallets, blazing speed, and security. It's also a popular coin for mining which is a big criteria for me right now. Being truly decentralized is the OG antibank idea.
Possible breakout on recent triangle, meeting of old resistanceGreen is 4h hour (main window) and yellow lines are 1week timeframe (larger chart you can see here below:)
Any thoughts?
$DGB Update$DGB moving in this pattern for 100 days now, resistance and supports have been hit on different occasions, price have been consolidated many times.
It's gonna be sooner rather than later that we'r gonna see a possible move to the upside areas of 280-340 sats.
I Remain #BULLISH
Be safe, trade safe and use a stop loss.
DGB can go skyrokcet if the support will be savedHi friends hope you are well and welcome to the new update on Digibyte coin. As in my previous article we have seen that the price action of DGB was moving in a pennant and broke out resistance. As I told you that now the price action my retest the previous resistance of pennant as support and in case of successful re-test it can start the next rally. But the retesting has been failed and the price action is again entered in the pennant.
The pattern has been changed to up channel:
Previously the priceline of DigiByte was forming lower highs but recently it has made a higher high. Therefore now the pattern has been changed from pennant to up channel. And the price action is at the support of this channel. Now we can use the Bill William alligator indicator with the combination of this up channel. At this time the bill Williams alligator indicator has given sell signal as the smallest time period MA is moved down and biggest time period moving average is above all moving averages. But the priceline did not break down the support of the channel. Therefore we can ignore this sell signal but in case the priceline will break down the support and the William allegory indicator will be still giving sell signal then we can consider it as a stop loss and take exit from DGB by selling it. We can also observed that the stochastic indicator has given buying signals as the blue line has crossed up the red line from the oversold zone.
Simple moving averages on daily chart:
Now if we watch the different simple moving averages with the time period of 25, 50, 100 and 200 then price action has broken down the 25 and 50 simple moving averages and having strong support of 100 SMA. We have still the smallest time period moving above all then 50 then 100 and then 200 below all. This order of the moving averages is still giving strong bullish signals. Once the priceline of DGB will be able to move up from the support of 100 SMA. Then it can breakout the 50 and 25 simple moving averagess again and started the next rally to the upside. However, if the price line breaks down the 100 simple moving average support then it can reach at 200 simple moving average support that is at 0.00000142 btc at this time.
Simple moving averages on long-term chart:
Now if we switch to the long term weekly chart and place the same combination of the simple moving averages. Then the price action is facing strong resistance of 200 simple moving average since the first week of May 2020. And also having strong support of 100 simple moving average. From the downside the 50 and 25 simple moving averages are moving up to form bull cross with 100 simple moving average. Once these simple moving averages will be moved up then the price action will be able to break out the 200 simple moving average resistance as well.
Conclusion:
Even though we have a very good order of moving averages that is giving bullish signals and the different indicators are also giving the buying signals. But at this time the price action is at very critical support of an up channel. Therefore, if the price line of DGB breaks down the support then we should consider it as our stop loss strictly. Because on the other side the Bitcoin is turning more strong bullish and if the Bitcoin dominance will be increased then price action can break down this channel and start the rally to the downside.
Bonfire built trends and intersects BTCUSDBuilt true to square (local PA vs 45 degrees) using Bonfire Squaring - Probable pivots marked from square and intersects.
Buy Opportunity for $DGB??Bitcoin stole the show from almost all altcoins today, so we've taken a backseat for the short term. However, it looks like we're in oversold territory in the 4hr RSI and Stoch RSI, AS WELL AS being on the botton Bollinger Band as support. I'd expect to hold/bounce from here, unless Bitcoin makes another sudden strong move.
DGB-BTC: Ascending triangle is maintainedHere we have DGB-BTC pair, this chart is still maintaining its Ascending triangle pattern. It did took big drop today after BTC moved above 10500, but it has not broken below the support.
DigiByte (DGB) Going To Form Next Bull FlagHi, friends hope you are well in welcome to the new update on Digibyte coin. In my previous post, we have seen that the price line of DGB was moving in a pennant on the daily chart. Today we can see that the candlestick is breaking out the resistance of this pennant. Now we should wait for the candlestick to close above the resistance once we will have today's closing above the resistance then we will be confirmed that the resistance of this pennant has been broken out.
The Bill William 3 lines have given buying signals:
If we place the bill Williams 3 lines that are also called bill William alligator indicator on this daily chart. Then we have the smallest time period moving average that is moving average 5 above all then we have the moving average 8 and then 13 moving average is below all other moving averages that are considered as a buying signal.
The priceline is bounced from SMA:
Previously we have seen that the priceline was at the support of 25 simple moving average and even it was re-testing the 50 simple moving average support as well. Now the price line is bounced from these simple moving averages moreover, Now the smallest time period moving average is above all then we have the 50 simple moving average then 100 and then 200 simple moving average is below all other SMAs. And this order of the moving average is called in open alligator mouth by that simple moving averages that can produce a more powerful bullish move.
Strong resistance of SMA:
Now if you wish to the weekly chart then it can be observed that the price line is not able to cross up the 200 simple moving average. And this SMA has become a very strong resistance to the price action of DGB. However, the priceline of Digibyte also has the supports of 25, 50, and 100 simple moving averages as well. The 25 and 50 moving averages are moving upside to cross 100 SMA. And once this bull cross will be formed between these SMAs then we can expect the priceline will be able to break out from this resistance of 200 simple moving average as well.
Conclusion:
Even though the price line of Digibyte is at the strong resistance of 200 simple moving average on the weekly chart. But as on the smaller time period chart, the price action of the DGB is breaking out the pennant. Therefore we can expect that it will be a bull flag and the priceline will move more up to form the next bull flag. Therefore the priceline can also break out the 200 simple moving average resistance on the long-term weekly chart as well.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
DGB pennant + ascending triangleDGB pennant + ascending triangle. Target 300. Stoploss below ascending triangle (1h stop loss).
