DIGIBYTE - TRIPLE TOP REVERSAL - SHOULD FALL SOON.!steemCreated with Sketch.

in bitcoin •  6 years ago 

digibyte.png

Today has been a productive day, i have already published 4 charts with this being the 5th one.

A triple top has formed on the DGB-USD and the price will start falling soon. The price got rejected from the previous peak level.

PATTERN: TRIPLE TOP
TIME FRAME: DAILY
RISK/REWARD RATIO: 2.68

DGB.png

Below is the complete Fibonacci representation. I am expecting a fall to at least 0.618 Fibonacci level(but it may fall a bit more or a bit less too).

dgb2.png

I have analysed the indicators and they are all supporting this decline.
Let's have a look at them.

RSI

The RSI is showing Bearish divergence with the price forming Higher High but the RSI forming Lower High.

dgb3.png

MACD HISTOGRAM

MACD is also showing Bearish divergence with the price forming Higher High but the histogram forming Lower High.

dgb4.png

MOMENTUM

Also with RSI and MACD , the momentum indicator is also supporting the fall. There is a Bearish divergence between the price and the momentum with the price forming Higher High but the histogram forming Lower High.

dgb5.png

Trend is expected to reverse soon, from uptrend to downtrend. This may be a good time to close out longs.

P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.

Keep an eye out. Trade safely. Always remember, money not lost is also a profit.

Good luck trading.!
Peace.

If you find this article/information helpful, be sure to leave an upvote and share with all your friend.

Follow me on Twitter: https://twitter.com/Imfamous_Rajat

Follow me on Tradingview: https://www.tradingview.com/u/imfamousrajat/

bitcoin money investment crypto altcoin
6 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.00
    3 votes
    2
    Authors get paid when people like you upvote their post.
    If you enjoyed what you read here, create your account today and start earning FREE STEEM!
    Sort Order:  
  • Trending
    • [-]
      ·  6 years ago 

    Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
    https://www.learningmarkets.com/how-to-trade-bullish-and-bearish-technical-divergences/

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      [-]
        ·  6 years ago 

      Congratulations @imfamousrajat! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

      Award for the number of upvotes received
      You published 4 posts in one day

      Click on the badge to view your Board of Honor.
      If you no longer want to receive notifications, reply to this comment with the word STOP

      Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.00