Technical Analysis - DigiByte
DGB/BTC - 05/11/2020
As shown above, we will be updating the DGB/BTC technical analysis from the 30th of May 2020.
Since the last update, DGB has made tremendously big moves. Surprising traders and investors with an impulsive 500% incline. We were mentioned for many months a noticeably significant bullish divergence that was building up and showing more and more signs of strength consistently.
Moreover, the long-lasting and exhausted downtrend resistance finally broke. Right after the break of it, the new and high volume coming in became rocket fuel for this pair. This once again shows that patience is of utter importance in trading and TA.
The MKAST Algorithm on this pair works better than magic in some parts of this world. Right after breaking resistance, the algorithm understood the new incoming bullishness and printed a buy-condition, reaching Take profits at 25, 50, and 100%.
The TJ-Index showed tremendously oversold conditions right after the break of support. Following that, it started increasing and showing strength. Currently, at 13 out of 15 points, it is showing slightly overbought conditions.
The volume is solid, hence the reactive and sell-volume is high as well, indicating a possible incoming continuation pattern, like a wedge or a bull-flag.
The experienced reader and trader would be looking for trades if a significant dip occurs touching previous key-levels or a bullish market structure occurs.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!