DGB - The sleeping giant!

POLONIEX:DGBBTC   DigiByte / Bitcoin
DGB woke up a few days prior with the whole privacy coin movement, mainly sparked by John McAfee. He also tweeted hours ago about DGB being the sleeping giant, which helped with the bullish movement that we are seeing. I've only discovered DGB about a week ago when I started to look at other privacy coins after the whole XMR hacking incident. The more research I did on DGB , the more convinced I become that DGB will eventually emerge as one of the top privacy coins. We are already seeing DGB being incorporated with real world usages such as DGB's program being implemented in Microsoft's Azure program! They were also invited to participate in a competition held by Citibanks (they were runner up for this competition). Regardless, this is major major exposure for DGB . Not to mention that DGB inforporates the same technology used to secure nuclear launch code.

My take on DGB as of now: DGB had an amazing bull run from the tweet this morning and is now retracing. I expect DGB to retrace to about the 475-500 sats region. If this floor breaks then it can retrace back down to 400 sats region. As we've seen with Verge coin, the hype from McAfee's tweet has been fueling that train for quite some time and I'm expecting DGB to be following in a similar fashion. That is why I do not think the retracement of this bull run to retrace much, unless BTC decides to rise exponentially or drop exponentially or if BTC vs BCH drama re-occurs.

My first target price is 815, this is based on the fact that DGB has had resistance here in the past however I do expect DGB to blow passed this barrier and enter my second target of 1077 sats . Again, this is another resistance/support level from the past. Once we breach the 1000sats mark, I believe that DGB will continue upward since 0 numbers act as a psychological barrier.

TP1: 815

Make sure to lock in profits on the way up guys!
評論: Seems like we tested the lower end of the support at 475. Now all we need is the bullish pressure to build up and up we go. It's still to early to say that were out of the support zone at 475-500 but bouncing off that once since hitting an ATH of 555 reaffirm that there is support there.

ABCDE symmetrical triangle forming, I am expecting DGB to rise soon!
評論: Well there goes our triangle. Nothing to do now but wait out on btc. Hold strong guys. The reward will be worth it.

Had to update our triangle with the BTC pullback but I think it's safe to say that we are on the right track! Our brothers over on bittrex is leading the charge (currently trading at 542 sats as I am typing this). Hopefully BTC will stay stable while we try to push the upper resistance and reach an ATH.

Unfortunately DGB's growth is hindered by BTC's uncertainty. Good news is that we broke the ABCDE triangle but have not been able to pulled away from it. BTC's bearish market pulled us straight back but we have bounced off the upper wedge. Hopefully we'll be able to gain some traction and pull through, leaving this bearish BTC market behind us.

this is a BTC chart. I see a double bottom forming, will have to give BTC a solid half day or so to finish off the double bottom. This should end the whole bearish market fiasco with BTC. The light at the end of the tunnel is getting brighter and brighter. Hope you guys didnt panic sell!

Bitcoin's crash definitely affected our bull run, pulling us back into the triangle. But despite that, Digibyte is already trying to push the upper limit of the triangle already. Digitbyte is still very bullsih despite multiple setbacks today -cough bitcoin cough-

Cheers to Digibyte bringing us a good Christmas! Happy christmas eve!

We were able to break out of the triangle and have found support at around 580sats. This also served as support on 4 different occasions during the past from MAY2017-JULY2017. Momentum is building up slowly for Digibyte due to decreased market uncertainty with BTC's double bottom formation. The other two blue lines represents previous trend resistance. With the demand for privacy coins increasing everyday, I strongly believe that Digibyte will become a top contender!

Growth for DGB has been slow but steady. I know many of you guys are expecting a fat bull run, but honestly I do not mind the steady growth. This just means the retracement is not as severe as it is when big runs. But do not worry, the big run you guys are looking forward to will come in time. As people start to notice that DGB is increasing daily, whether it is big or small gains, they will start to flock to DGB.

Anyways, another triangle is forming but this time around we have a support zone of 580 so we rarely see the formation bouncing off the lower limits of the triangle! Gear up guys, the gains are here as present for Christmas :)

BTC's uncertainty definitely pulled us back and once more, DGB has become a dormant giant that it was to start with. We are trending withing the previous channel prior to the massive outbreak, that is John McAffe's tweet. I expect that we will bounce off the lower limits of the channel. RSI and OBV is trending upward and MACD is indicating that there is potential for trend reversal. Hopefully we are able to bounce off the lower channel's limit and resume our upward trend. Our first line of resistance would be the previous ATH. Once through, we should expect DGB to run towards the 800 sats region.
Thanks for the breakdown and updates, interesting good read
+1 回覆
Happy Christmas @mistahtom , with the best wishes for your in new year,

I have a question and it is appreciated if you answer it please, can you predict the price action of DGB when BTC goes to its All Time High price within next upcoming days? it is better to hold DGB coins or switch back to BTC then jump back to DGB when BTC goes stable?
+1 回覆
mistahtom flyingtopore
@flyingtopore, Honestly with the market left in a state of uncertainty, I cant really predict when DGB will attempt to break resistance and go to a new ATH. I, myself, am holding DGB because I like the tech and the team behind it. BTC's rally to a new ATH wont happen until: 1) it climbs back to its previous ATH, which can take some time and 2) as BTC is stable and slowly climbing back up, ALT coins will start to rally. Alt coins have been notorious for rallying during BTC"s sideway movement phase. Once BTC rises back to its previous ATH, I will personally ride that BTC train because ALT coins will start to bleed out again.

Unfortunately I can not tell you when DGB will attempt to a new ATH but there are multiple bullish signs that DGB is giving out.
+2 回覆
@mistahtom, Thanks for sharing your idea, it is very useful for me
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