Hi, dear patrons, hope you are well and welcome to the new update on DigiByte (DGB).
On the 4-day chart, the price action of DGB has completed the formation of the Shark pattern. There is also 50 simple moving average support in the buying zone.
Buying and sell targets for Shark move:
Buy between: $0.0624 to $0.0315
Sell between: $0.09 to $0.1520
Stop loss:
The maximum extent of the potential reversal zone at 1.13 Fib level can be used as stop-loss which is $0.0315.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 380%, and a high loss possibility up to 50%, therefore to minimize the loss factor we can use the 50 SMA as support.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the 4-day chart, the price action of DGB has completed the formation of the Shark pattern. There is also 50 simple moving average support in the buying zone.
Buying and sell targets for Shark move:
Buy between: $0.0624 to $0.0315
Sell between: $0.09 to $0.1520
Stop loss:
The maximum extent of the potential reversal zone at 1.13 Fib level can be used as stop-loss which is $0.0315.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 380%, and a high loss possibility up to 50%, therefore to minimize the loss factor we can use the 50 SMA as support.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.