LudwigStirner

The DGB tries to hold the Support

BITTREX:DGBBTC   DigiByte / Bitcoin
The DGB             tries to hold the 300Sats level. If this support level is broken then we could see another leg lower with the DGB             sliding down to the 140Sats level. The reason I am mentioning this is because BTC             surged higher on Saturday with big volume as traders start to anticipate this drop. If the DGB             price starts to drop, then holding BTC             may be the best safe haven.

3-Day Chart:

From the chart, it looks like the DGB             trend may fall through weak support level and test the next support at 140-150Sats, I think it will be several weeks before we see such a test. The falling volume is a concern. If volume can rise above the monthly average, it is a good sign that price will test the weak support before the uptrend can start.

RSI is below 50, a sign of the downtrend. The MACD turned down through the centerline, a sell sign and it is still trending down, which is a negative sign. In addition, the EMA lines put pressure on the DGB             price, as well as 20EMA and 50EMA can make a death cross soon, which will be the sign of the strong downtrend.

1-Day Chart:



I can't say it's a different chart, but the daily card a copy of three day chart, 20/50/100EMA is a resistance lines, the RSI is below 50 level, it's sad :( and the MACD below centerline without any positive sign on the horizon to bounce from the first support at 280Sats area.

4-Hour Chart:



Volume has been trailing off, which is not a good sign for the price to keep going up. Watch for above average buying volume as a sign the DGB             price will start it's up trend. Otherwise, we should expect a pull back.

RSI is below 50 indicating the downrend. The MACD is at a low point, so the price need a spike to end the correction and start it's uptrend

My concern is that most people seem to think the markets had bottomed, and if that's the case, everyone should be long right now. If the markets continue this downward slide a few more days we could see prices drop very quickly as I mentioned above. I would rather see the trend flatten more or start to head higher before I take long term trades to the long side.
I trade Bitcoin Futures with x100 leverage here https://goo.gl/z6ue26

If you want to chat, https://t.me/HellsCryptoTrading

Please do your own research in addition to reading the TA.
nice analysis. Can you also do an analysis on ETC ? thanks
Balas
@SamHuynh, a bit busy today, I will try tomorrow
Balas
Of course your opinion is one faset of making a decision
Balas
Great TA thanks for your extensive explanatio!
Balas
LudwigStirner loekdebruijn
@loekdebruijn, you're welcome! but please, don't forget to do your own research :)
Balas
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