Is Digibyte getting ready for another breakout? There's a few things on the chart that makes me think it will. All of 2021 it has been in a uptrend. DGB did get a little a head of itself and tried breaking the 200ma. It got rejected we never got a close above it. Since then we've touched the 200ma two other times and swiftly got rejected. We have however formed two higher lows and the last few days the 50ma has been holding very nicely acting as support. We are setting up for a MA cross with the 50 and 200 day which I consider bullish. We've also been holding up in a area where we've seen the buying since pre December.
What I what I want to see to know this trade is intact is a close above the 200ma and it hold for a day or so. I do think we may get rejected at it one more time and form another higher low. If I see a lower low formed below 115 I may possibly consider that the trend has reversed and close the trade.
Best of luck on your trades!
What I what I want to see to know this trade is intact is a close above the 200ma and it hold for a day or so. I do think we may get rejected at it one more time and form another higher low. If I see a lower low formed below 115 I may possibly consider that the trend has reversed and close the trade.
Best of luck on your trades!