DGB Update. 1 Year Later and some nice fat returns. Neutral/Bull
DGB Analysis
Amazing how far we’ve come over the last year. The world is throwing something new at us everyday, crypto took a nasty nose dive in Q1 of 2020 but has rebounded better than expected as we make our may into the new bull market.
Lets take a look at how our DGB trade is doing.
When we last touched on this we were laddering in heavy under a penny and had nearly 40 weeks to accumulate under those prices. However a better measuring stick for DGB is the BTC pairing where we were laddering in under 100 sats all the way dow to just under 60 sats.
Removing the crazy flash crash which only happened on Bittrex exchange, we saw a beautiful rounded bottom play out. A bullish divergence play out as the RSI coiled up within an ascending triangle before a massive breakout in April of 2020.
Lets now fast forward to the present and see whats going on with DGBBTC. Our sat levels have been steadily climbing to higher highs and retesting support and liquidity levels previously broken. Almost perfectly in sync we see a weekly pattern of green, red, green, red and so on.
It’s crucial to maintain support above the 248-250 sat levels and keep closing at higher levels. We’re roughly 2-3 weeks away from having the 200wEMA cross bullishly with the wEMA ribbon which is a very bullish signal. This is certainly the longest bullish consolidation DGB has ever had. Typically we see massive spikes followed by deep corrections. Prior to this run DGB had averaged price spikes of around 4.8 weeks with more than 50% of those weeks being 4 weeks or less. This current run has lasted an incredible 20 weeks, twice as long as DGB’s prior best of 10 weeks during the 2017 run.
Heikin Ashi remains bullish and signaling a pretty significant uptrend and we’ve seen no lower shadow on the previous 2 weekly candles. 278 will be our first line of defense to stay above. Closing below could signal a short term reversal possibly down to that 248-250 range. The orange line is a potential route for the 200wEMA as it continues its bullish cross of the wEMA ribbon.
Long term: I will remain bullish until I see closes under the key 250 sat level. If you’re looking for an entry and If that level remains solid support, add on strength. Upside targets would be 367, 517, 637, 849 and then ATH sat levels.
Im currently neutral to bullish on my position as this is a long term hold from me and I’ve already increased my overall portfolio by roughly 5X.
-Rob D Swinging Crypto
Amazing how far we’ve come over the last year. The world is throwing something new at us everyday, crypto took a nasty nose dive in Q1 of 2020 but has rebounded better than expected as we make our may into the new bull market.
Lets take a look at how our DGB trade is doing.
When we last touched on this we were laddering in heavy under a penny and had nearly 40 weeks to accumulate under those prices. However a better measuring stick for DGB is the BTC pairing where we were laddering in under 100 sats all the way dow to just under 60 sats.
Removing the crazy flash crash which only happened on Bittrex exchange, we saw a beautiful rounded bottom play out. A bullish divergence play out as the RSI coiled up within an ascending triangle before a massive breakout in April of 2020.
Lets now fast forward to the present and see whats going on with DGBBTC. Our sat levels have been steadily climbing to higher highs and retesting support and liquidity levels previously broken. Almost perfectly in sync we see a weekly pattern of green, red, green, red and so on.
It’s crucial to maintain support above the 248-250 sat levels and keep closing at higher levels. We’re roughly 2-3 weeks away from having the 200wEMA cross bullishly with the wEMA ribbon which is a very bullish signal. This is certainly the longest bullish consolidation DGB has ever had. Typically we see massive spikes followed by deep corrections. Prior to this run DGB had averaged price spikes of around 4.8 weeks with more than 50% of those weeks being 4 weeks or less. This current run has lasted an incredible 20 weeks, twice as long as DGB’s prior best of 10 weeks during the 2017 run.
Heikin Ashi remains bullish and signaling a pretty significant uptrend and we’ve seen no lower shadow on the previous 2 weekly candles. 278 will be our first line of defense to stay above. Closing below could signal a short term reversal possibly down to that 248-250 range. The orange line is a potential route for the 200wEMA as it continues its bullish cross of the wEMA ribbon.
Long term: I will remain bullish until I see closes under the key 250 sat level. If you’re looking for an entry and If that level remains solid support, add on strength. Upside targets would be 367, 517, 637, 849 and then ATH sat levels.
Im currently neutral to bullish on my position as this is a long term hold from me and I’ve already increased my overall portfolio by roughly 5X.
-Rob D Swinging Crypto
Comment:
200 sat levels maintaining decent support for now. Im fairly neutral on Bitcoin right now so if i takes a downward turn I'd expect Alts especially DGB to suffer a bit. If Bitcoin moves sideways I'd expect DGB to continue climbing. So far during this massive consolidation period it looks like it's found nice support at the 200 sat level.
Comment:
its been a while. I haven't even been following DGB on my own personal holdings. I'm playing with house money and 3X my original holdings so at this point, I'll just wait for another cycle on the BTC ratio and cash out when the USD pair looks good on the upcoming bull run. Price action broke below the 200wEMA so I'd expect a retest of that level to confirm resistance and then further downside. Could be a bear trap though so look out for the 200 recapture. Either way I'm not paying much attention to this and whatever I have, I'm rolling with.