✳️ DigiByte vs Bitcoin Ends Its Correction
We are looking at perfect timing...
When Bitcoin grows, the section of the Cryptocurrency market that suffers the most are the ALTSBTC, Altcoins vs Bitcoin pairs. That is because all the energy is sucked out of these pairs to fuel Bitcoin's growth.
And thus the correction ended in a lower low compared to May 2022; this is no big deal.
A higher low is technically bullish/strong.
A lower low, unless it goes down to a new Fib. level, works in the same way.
DGBBTC hit a new low by 1 satoshi (31 sats April 2023 vs 32 sats May 2022) so we are technically speaking about a long-term double bottom.
Once we hit bottom the only place left to go is up.
This weekly session is closing as a reversal signal after a new low has been hit. This is good as it points at a reversal taking place next.
Overall, the whole pattern is still a long-term consolidation phase.
The moves taking place now are not relevant when it comes to the bigger picture.
Check the DGBUSDT trade idea for additional information on DigiByte.
Namaste.
When Bitcoin grows, the section of the Cryptocurrency market that suffers the most are the ALTSBTC, Altcoins vs Bitcoin pairs. That is because all the energy is sucked out of these pairs to fuel Bitcoin's growth.
And thus the correction ended in a lower low compared to May 2022; this is no big deal.
A higher low is technically bullish/strong.
A lower low, unless it goes down to a new Fib. level, works in the same way.
DGBBTC hit a new low by 1 satoshi (31 sats April 2023 vs 32 sats May 2022) so we are technically speaking about a long-term double bottom.
Once we hit bottom the only place left to go is up.
This weekly session is closing as a reversal signal after a new low has been hit. This is good as it points at a reversal taking place next.
Overall, the whole pattern is still a long-term consolidation phase.
The moves taking place now are not relevant when it comes to the bigger picture.
Check the DGBUSDT trade idea for additional information on DigiByte.
Namaste.
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🏆 Results: t.me/alansantana1111/5935
🔝 Daily Cryptocurrency Technical Analysis
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