Digybite at a crucial stage DGB/BTC
Digybite DGB/BTC has completed a wave 4 correction via a complex wxy pattern after failing to break above 500 sats. for over two weeks it has been caught in a negative downward median line set unable to break out due to a collapse in BTC price. However the extended length of time spent at this upper level and large consolidation is a positive sign that price has found a potential platform to move up from.
BTC is in the process of a producing a horizontal basing zone and therefore DGB has potentially started the 5th wave therefore DGB/BTC is now at a crucial moment.
A major resistance line has been broken and is now potentially acting as support. A return below this line is a sign of major weakness.
A minor resistance line in pink is yet to be tested and a retest of this line should it be broken may provide an entry point.
However failure to make it out of the downtrend line sets a move fundamentally driven by BTC price action may see a failed wave 5 and a return to the 300 sat range.
Due to it's explosive history there might be an extended wave 5 beyond the target area of around 570 sats.
However this depends fundamentally on BTC price action.
A break of the lower parallel line signals further downside and a return to FIAT may be the safest bet while BTC continues to correct.
