Digibyte About to Change Directions?
Take a look at the below trendline. I've plotted the black line touching about four lows (couldn't fit them all in the picture) that represents the support trendline. If the price breaches it at about .000100 then steer clear because we'll see more downward movement. If on the other hand the price respects this boundary then this might be a good place to buy in.
Another thing to point out in the below is that the 50 day moving average is about to breach the price action and switch from offering resistance to offering support. Additionally, notice how the 100 SMA (Simple Moving Average) is about to crisscross the 50 day SMA. This is another good sign that signals that the downward trend might be behind us.
Chronologically first:
I agree with the reversal. It was such a big dump after digitbyte did not win the contest this weekend.
However, I am skeptical to get back into digibyte just because of the volatility. I am going to wait a little longer and see if there is a consolidation period
Yeah...if only there were options and we could straddle this beast. This analysis is strictly from a technical standpoint but I get your concern. But hey, just because you don't win a competition doesn't mean you don't get credit for participating and putting up a good fight.
Just bought 18324.96664438 DGB at 1084 satoshis. Thanks for sharing your knowledge with us @rroston !
Great buy man. Best of luck!
It already increased by 35% since I bought it 4 hours ago :)))
Welcome to Steemit :)
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