Technical Analysis - DigiByte
DGB/BTC - 03/04/2020

 

Transparency Disclaimer: 

This Technical Analysis was brought to you by DueDEX

DueDEX, registered in Belize, is a fair crypto derivatives trading platform that offers unique trading tools. The DueDEX Risk Manager ™️ is a powerful tool that allows you to easily set stop-loss, take-profit and account risk with a slider. The product is unique as the first-of-the-kind offering a comprehensive "DueDEX Risk Management" suite. It is well-designed for both professional traders and those new to margin trading.

As shown above, we will be updating the technical status of DGB/BTC from the 12 of February. 

 

Overview: 

Since the last update, DGB has not made great moves. It does seem like it is ready to make one more small move downwards to really extend that slingshot to its maximum potential. Just recently, we got rejected at the downtrend resistance and are now approaching to make a new ATL of this snapshot. 

 

Update: 

Starting with the exciting development of the MKAST-Algorithm. This is a yellow, early warning sign, saying if the candle closes like this, we will get a sell-signal. This would further add to our slightly locally bearish bias of DGB, making one more leg downwards, to create significant divergence and fulfill this market structure. The TJ-Index is complimentary of the above, moving down as we speak. The volume is quite impressive, though. Here we see low or rather insignificant volume (below the volume MA). This indicates that the recent downwards movement is taking more the signs of a retrace instead of a new or strong downtrend. The somewhat lacking sell-volume compliments our general (not local) bullish bias for DGB/BTC. Furthermore, it opens a possibility for this being just a deviation from the mean or an attempt of breaking the HTF horizontal support, which would then bring us sooner than later to a re-test of the downtrend resistance again. An experienced trader would look for entries at the divergent support line or at a clean break of the downtrend resistance. 

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



DISCLAIMER

The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on). Trading and investing in cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrencies, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment. Since

 

Any opinions, news, research, analyses, prices, or additional information contained on this website is provided as general market commentary and does not constitute investment advice. Upblock will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this Site are owned by the respective writer and should never be considered as advice in any form.