Digibyte bounce coming

10 thg 5, 2020

As you can see in the left 3 red circles, Digibyte has reacted strongly to the red uptrendline.
It broke trough 2 (years old) resistances with ease. (Blue and black) which suggest a strong uptrend.

Within 2 day’s I expect price to bounce out of the red circle on the right.
This move is supported by the black and red support lines and the RSI has a lot of room to the upside.

Buy between: 0.01740 and 0.01580
Stop loss under 200MA

-Invalidated if: Broke black or red support line.
-Underlying support: 0.0130 local support and 200MA
-Overhead resistance: 50MA, 0.0198 resistance in blue, 0.026 resistance in red
-Target: 0.026 resistance at previous high, or hodl.

This is for my personal record and not financial advice, you are responsible for your own actions.

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Thanks! Stay safe!

12 thg 5, 2020

Ghi chú

Buy orders filled around the support zone.
Digibyte bounced strongly as expected with a 15% bounce.
Monitor the overhead resistance of the 50MA closely as Digibyte will probably consolidate between de 50MA on the 4h and the support line (drawn in fat red)