DigiByte (DGBBTC) just woke up after a long, long sleep. This altcoin is one of the first to be created and a complete classic.
It normally holds really strong (no new low) and it tends to go up strong when in bull mode.
Feel free to hit like now and let's get started with this analysis... Thanks a lot for your continued support.
Let's take a closer look at the chart:
Here we have a Doji on the weekly time frame, coming up at the bottom of a trend. A clear trend reversal signal if you go by candlestick reading. Still, a few parameters need to be met but this is the signal.
We are looking at a high volume bar on a Tuesday, this is the weekly time frame we are looking at and the week is only getting started. So this week can end up being a really high volume week. We can end up with something like the highest volume in a week since July 2018.
Next is the RSI, it hit its lowest ever. Notice that DGBBTC has been available for trading on Bittrex since late 2014... So the lowest ever is quite a feast. Here you can see the chart:
This also leads to what is called "hidden bullish divergence"... I'll leave the explanation for another time.
These signals are enough for me. What about you? Is there anything that you want to share with us? Use the comments section below... and remember to hit like to show your support.
Outside of technicals, the fundamentals of Digibyte are strong. This team never showered themselves with any pre-mined coins (how many of us could resist that temptation?). Any coins that any of them have are from either mining or buying them just like the rest of us. And they are innovating every time we turn around. Their only weakness during much of their time since 2014 was their lack of visibility/marketing. Rather than being like so many projects that focus on image instead of rock solid coding and innovation, the Digibyte team put their nose to the grindstone and put all their effort into the code and infrastructure. When anyone hears negative rubbish about Digibyte, I invite you to dig a little deeper and get to know the team and what they really stand for. We've all had our fill of naughty trolls in this space, speaking negatively about other projects. And while many projects should be called out for their substandard project or coding, Digibyte is not one of those projects. And as far as marketing these days, this has been growing exponentially for the last year or so during this bear market. And this has been accomplished with the community pulling together and volunteering their time to help lift up that part of the project that needed the most help. I don't know that there's a more decentralized project in the space, and with it all progressing from 100% volunteer efforts, you don't have to worry about market pricing ever impacting finances to the point of implosion. And the lack of massive financing from things like pre-mining tends to keep the focus clear and on point. When too much "free" money gets in the way too soon, judgement can become clouded and many of the things that money brings with it become a distraction. These guys are doing what they're doing, because they love it, and want to achieve their highest potential. The money will certainly come for them, and when it does, they will be older, wiser, and already fully disciplined in their craft, so that any large paydays in the future will have less of a negative impact on them. The Discipline will already be fully engrained. Keep an eye on this project. Big things are in store. Buy it up while it's still at a discount. When the next bull market hits (which we may be in now, although debatable), it will likely follow previous trends of creating new All Time Highs. And with all of the progress during the bear market, such fundamentals should turbo boost the price when the market moves in our favor.
DV71
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@VolatilityRocks, you guys need to stop building a CULT around DGB, you make us look not too good
The thing about good technology - if it is really good, it will eventually find it's way without zealots(no offense here) forcing it everywhere
I am a big fan, holder, miner of DGB, but at some point i had to admit that we've built something unhealthy with all that DGB shilling. People start to compare us to the XRP army and this is a point of no return
AlanSantana
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@DanielV7, It is part of the game. The guy really enjoys the project.
With so many options in the crypto-space, and all the nonsense going on, it is normal to see this kind of reaction.
VolatilityRocks
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@DanielV7, You say no offense? Sure. You will NOT curtail anything I have to say... EVER. There is not one thing wrong with what I've said, and has nothing to do with being a zealot. And forcing it? What does it say on the chart above? Oh look there, it says Digibyte. So I'm talking about the exact same crypto that this idea is covering? *GASP* How could I commit such an atrocity? You might have a little more to go on if I was posting this on someone's idea surrounding another coin, which I have not done and wouldn't do. Shame on me for coming in here and forcing my thoughts onto everyone ALREADY looking at a Digibyte chart. As far as an unhealthy environment, you are mistaking my post with certain attitudes of those previously. There is nothing negative in what I've said. Those you speak of have gotten in over their heads with their attacks on CK and other projects where they could have just shared positive information about Digibyte, but instead specifically attacked those projects. I have positively spoken of Digibyte without attacking any specific project otherwise. Of the two of us, it is YOU who comes across as exactly that you wish to admonish. I had posted positive and you followed it up with negative. For whatever (very odd) reason, you seem to think I should just go off into the corner and stfu. Well, I say to you and your negativity, go off into the corner and stfu.
Just stated that i am seeing - that we start to look like an XRP army because of DGB "fans" everywhere(nothing against this analysis or you mentioning DGB under DGB idea)
VolatilityRocks
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@DanielV7, You contradicted yourself. First, you have the audacity to tell me that I make you and Digibyte look bad. What a shit thing to even say. And now you say you have nothing against my mentioning DGB under this DBG idea. Make up your mind. As far as hurting my feelings, that is not the case. If someone is going to be a complete dick to me when I've done absolutely nothing wrong, I'm going to most definitely put them in their place. As simple as that.
AlanSantana
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@VolatilityRocks, Thanks for sharing. The feedback and your time are highly appreciated.
Namaste.
damdamm
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@alanmasters, Hello AlanMasters ! Do you plan any update on DGBBTC and DGBUSD ?