Technical Analysis - DigiByte
DGB/BTC - 03/30/2020

 

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As shown above, we will be updating the technical analysis of DGB/BTC form the 3rd of March. 

 

Overview: 

DGB/BTC has made some remarkable moves since the last update. Obviously, it has broken down significantly from the key-area of support while everything was breaking down. Right now, we have seen a bug and strong bullish engulfing after a slight bullish divergence in this descending channel. DGB has reached downtrend resistance right now and really has to show some real strength to reverse this downtrend. 

 

Update: 

 

The MKAST Algorithm has signaled a Sell-Signal at the breakdown of the key-area of support. This Sell is still ongoing and has low chances of reversing if DGB is not able to close back above the previous key-are of support. Although the TJ-index is turning upwards slowly and could indicate a reversal, an experienced trader would wait for an explicit confirmation of the MKAST Algorithm or look for strong bullish engulfing, which would close above the key-area of support and the downtrend resistance. 

This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!



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