Technical Analysis - DigiByte
DGB/BTC - 01/21/2020
As shown above, we will be updating the technical analysis of DGB/BTC from the 19th of December.
DGB has nicely reached the green box and tested the key-areas of support, which we had marked down on our previous analysis. This region here seems a lot like an accumulation before a major trend-break. We just saw a bullish engulfing, giving the needed confirmation.
Looking at the MKAST Algorithm, we can clearly see that it has flipped into a bullish position, and historically we can expect a trend-change. Moreover, the TJ-Index is quite low and slowly up trending, which gives us a further indication for an incoming change. Should this very long and almost exhausted downtrend break, then an experienced trader would be expecting a retest of previous highs. Nevertheless, there is always a possibility that it will break the area of support with a close below the lowest white line (68 sats).
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
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