BCryptological

Digibyte flirting with 2018/2019 low - support and bounce?

POLONIEX:DGBUSD   DigiByte / US Dollar (calculated by TradingView)
If BTC's expected grind down continues, DGB is due to hit its 2018/9 Low. This will likely occur in the next two weeks and with the Stochastic RSI primed this event brings with it two distinct possibilities:

  • DGB bounces back up 50-70%, such as the recent Nov and Dec bounces
  • DGB cannot find support and sinks lower, likely at least 20% down, creating a new 2018/2019 low

Either way, it would not be wise to enter a trade until we see how DGB responds to the 2018/9 low... but should a bounce occur, a well-timed entry could prove very profitable indeed.
Remember: always always have a stop-loss; a trailing one if possible.

Links below to the combined RSI/Stochastic RSI and 50/100/200 Moving Average indicators.

Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.

Comment: Well done if you took this: over the 17 days since I posted this Digibyte rallied an incredible 60%. Looks like the current drop in BTC is reloading DGB for another possible bounce soon.
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