Digibyte Ready To Take Off | Technical Analysis | Breakout Imminent

in #digibyte7 years ago (edited)

Digibyte has been on a consolidation period after having a meteoric rise of over 200%. Here we see the price finding support on the H4 200 ema which corresponds to the ema 800 on H1 displayed on this chart. Buy and hold.
digibyte.png

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The Fine Art of Surfacing
I've looked for your Intro but you're so new to STEEM you haven't posted it yet.

"Personally, I've been trading for over a decade on forex, stocks, bonds, derivatives, precious metals, commodities, swaps, you name it. Just recently got into cryptos. I use a more complex system but here I strip it all down for readability."

It's very pithy as well as readable, thanks. Reliable, Hope SO! I gather you spend more time in London than Antarctica. Ah, maybe that's where you register your citizenship status, eh?

An intro, will definitely be adding that soon.
Glad you find the charts readable and I hope they can give insight into major areas of confluence.

Yeah, penny stocks making parabolic moves, it doesn't get much better than that.

I understand you're expert at technical analysis, do you go deeply into the fundamentals of each company as well? A word now and then on the nature of the business model, developers, etc might be a confidence booster. Prefer to trade, or hold long term?

Yep, I do go deeply into fundamentals as well, will be posting a comprehensive fundamental analysis soon about one particular asset which I find to be massively undervalued and yet has the potential to be massive in the very long run.

I hold the most promising ones, trade the rest, but always up for a good long-term hold if the fundamentals are just right and the asset is trading under its market value. There are a couple of nuggets in my opinion. Will make a post as well on what I'm eyeing and why.

I'll also trade assets I'm holding. I'm holding Sia, but yesterday was an example where I do trade. Buy the rumour, Sell the fact. Re-enter lower. If the devs play ball I'm in for it.

Hey, that was a good analysis of Digibyte! I think that if you go into the what resistance and support is, as well as draw out and explain that bull flag pattern I see forming on the chart, you will take your analysis to the next level! I think you have a lot of potential here, so take the time to delve deeper into explaining your TA, and i'm sure you will get more readers and upvotes!Just followed you. Check out my page when you get a chance, and if you think it's quality, please consider following me back!

I appreciate this post and would love a more deeper analysis that @waphilip is talking about. Cheers to you both!

Hi @veritees,

@waphilip is asking to explain what support and resistance is, here's a good link to it: https://en.wikipedia.org/wiki/Support_and_resistance
@waphilip also is implying there's a bull flag somewhere forming. That would be interesting to see, can you post a chart? Because I can tell you there's absolutely no flag, bull or bear, that is active right now. So if you post a chart with the flag, I'll be happy to discuss.

I don't plan to write about the fundamentals of trading itself, as these are well covered all over the web already. But if you have a specific question in regards to my charts itself, or if there's something about it you don't understand, feel free to ask and I'll be very happy to explain.

Cheers,

Hey Waphilip, Thanks for your comments, they're a bit spammy. Also my posts are not tailored for the absolute trading beginners despite me making them as simple as possible. But if you'd like to know more about trading there's a nice blog that covers things in a very simple way. It's babypips.com
Personally, I've been trading for over a decade on forex, stocks, bonds, derivatives, precious metals, commodities, swaps, you name it. Just recently got into cryptos. I use a more complex system but here I strip it all down for readability.

Thanks,

Hey sorry! I didn't realize I was being spammy! I was just trying to add some value to your posts! I know a lot of readers don't know the basics of support and resistance so I thought it would add strength to your post if you delved deeper into the basics! I by no means questioned your TA skills and I actually bought some digibyte after reading your post so thank you! I won't comment on your posts anymore and will figure out a way to add value in a less spamy way. Again, I'm sorry about that.

Phone messed up so disregard this second response