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DigiByte / Bitcoin

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DGB Cup & Handle FormationDigiByte appears to be in the latter stages of forming a large Cup & Handle pattern. Shout out to alanmasters for his breakout call on DGB on April 11. I completely agree with his post (which I’ve linked below). You will not want to miss the earnings potential on this one. It has been and is severely undervalued IMO. It’s price has struggled since its inception with extreme volatility and beatdowns, and it’s not for a lack of fundamentals. Digibyte is an OG crypto. It is the longest and fastest UTXO blockchain in the world. DGB has had a rough life. It’s been tossed around and has struggled for recognition, which puzzles me for as strong as it is fundamentally. It’s just gotten the wrong end of the stick. In June 2017, the DGB team went the infamous route of “announcing an announcement” to its price’s demise. Everyone knows announcing the announcement brings in the greedy, get-rich-quick-ers to buy the rumor and dump the news. You can go back in the chart and see the enormous pump & dump, after which DGB went into a long state of depression before bottoming out and taking a massive 5x leap in Dec 2017. Then in Jan 2017, the notorious John McAfee shilled the poor coin after an organic 5x and pumped it until it couldn’t breathe. Of course, like all pump & dumps, DGB fell sharply back to its levels pre-Mcafee shill just a week later. Then the BTC bear market struck as we watched DGB fall nearly 90% USD value from a high of 883 sats (15 cents) in Jan to a low of 226 sats (1.5 cents) in mid-March. Man, this thing has been abused! But 2018 is the year that DGB’s luck changes. We found a new higher support during the BTC bear market for DGB of 228 sats, up from the previous sell-the-news bottom of 83 sats, and DGB has been one of the first movers in this recent alt surge. This indicates to me a growing support base for DGB, and a solid community can be everything in the crypto world. As you can see in the chart, DGB broke thru its 3 month-long log resistance level (red line) on March 21, consolidated and broke thru horizontal resistance of around 290 sats on April 11. From there, it has shot up 30% in the last 72 hours, finding resistance at around 370 sats. DGB could be in the latter stages of forming a large Cup & Handle pattern. Here’s why I am bullish on a completion of the formation I have marked and mid-term target of 700 sats: \u20281) DGB has already formed a smaller cup shape at the 370 sat level from its rounded bottom and recent uptrend. It appears we may already be in the midst of a smaller C&H before the big one. It’s possible we may form multiple C&H’s on the way up to the big one’s resistance at 465 sats. 2) There is a huge horizontal support turned resistance at the 465 sat level (marked with the red circles). DGB shouldn’t have any strong resistance until then as it continues its uptrend. When it reaches the 465 level, we should see a rejection and retrace, most likely to around the 420 sat level, where there seems to be healthy temporary support, judging by the 3 support touches in early Feb. If DGB reaches 465, I expect it to be bullish enough not to retrace to a lower level such as the 374 sats. 3) DGB seems to be gaining traction with the community and building a more solid community base, as seen by the recent first-mover surge. Its longevity speaks volumes of the developer support behind it, and the speed of the blockchain presents good potential for adoption use. 4) It’s had bad luck and its luck is bound to change. Just like the Dark Horse, naysayers fuel its inevitable and untamable rally. I don't expect DGB to have any significant pullback on the way up, as it is in the midst of a bullish rally. If you are going to buy, I would look to accumulate on the pullbacks at the gray lines and ride it out to the target at the top of the handle at 700 sats. Disclaimer: This is not financial advice Please give me a like and a follow, as you guys are my fuel for posting my ideas. The Dark Horse
Long
by DRKHORS
5
Will Digibyte Return to 72 Satoshi?This is a fair question and it must be emphasized that this analysis has nothing to do with fundamentals. If the Bitcoin market chooses the path of an extended crash then we must prepare for further downward movement for all alt coins (including Digibyte). It all boils down to the intentions and desires of market makers. It has nothing to do with retail investors like you or I. We are simply small fish in a vast ocean that is absolutely dominated by whales. So, the big question is, does the Bitcoin market maker want a discounted price at the floor or do they want to go on a bull run from current levels? Honestly, it could go either way but I am more inclined to think that Bitcoin will have an extended crash which will cause Digibyte to return to a floor where the demand is much higher. The most probable floor exists between 72 - 251 sats. Patience is key. Certainly we should not expect DGB to go on a massive bull run if Bitcoin starts a capitulation phase. It's not smart to think that way. Let's wait to see how the Bitcoin market behaves. We need confirmation before going long for the sole purpose of capital management. After all, if our bias is correct, then we can accumulate a strong position with leverage at the floor where the demand is great. This will give us more purchasing power and allow for a great long term positional play. I may be wrong in my analysis so you should conduct your own and never trust in my ideas or opinions. To conclude, I have a bias towards a bearish crypto market but will dynamically change to bullish if and only if Bitcoin and Digibyte can prove themselves to be bullish with irrefutable signals.
by crypto_gunther
5
Hello Moon, DGB Buy Opportunity!Daily Price action repeats it’s self and that’s just the way technical analysis goes. Resistance shown @ 0.00000362 and our consolidation support @ 0.00000240-0.00000280. Price was previously in a descending wedge broke & tested for support (2nd occasion). Double Bottom formed inside our consolidation zone, followed by breakout. Waiting for test of zone or break and close above 0.00000360 for entries. Trendline started (12/09/18), Test1 (03/18/18), Test2 (04/01/18) 4Hour HH & HL pattern continues, Entry now or after break and close 0.00000375 Hourly *Better Image OF HH & HL* Entry break and close after 0.00000354 Stochastic RSI shooing bullish momentum (hourly) Take Profit 1: 0.00000650 Take Profit 2: 0.00000830 Take Profit 3: 0.00001100 Take Profit 4: 0.00001400 Take Profit 5: 0.00001800 Take Profit 6: 0.00002100 Take Profit 7:0.00002500 Take Profit 8: HODL We spend our days following the patterns, technicals and essentials of the present most sultry data about Bitcoin, Ethereum, ICO's and different Altcoins, and burrow through all the messiness to discover just the best data for our perusers! In the event that you need the best cryptocurrency to buy / news conveyed straight to your inbox.
Long
by WhaleAgents