Last week, my Digibyte idea became invalidated due to the huge market sell-off. What was once a nice looking Bullflag and/or sym. triangle quickly became a bear flag on the 4 hr timeframe, as shown in this current chart. We must wait to see if the bearflag is breached to the upside.. or if it breaks through to the downside. If broken to the upside, then target is previous high. If broken to the downside, then the green trend line is the next support. However, we must wait to see how this flag plays out.
Comment:
Breach to the upside. Waiting for confirmation.
Trade active:
Breakout confirmed. You can enter long or wait for previous high to be tested. If tested, wait for breakout confirmation and long.
Comment:
Today was a retest. Nice volume. It bounce and recovered below.. this next wave should try to flip for support. You can long after flip for support if you choose.