The high timeframe view of DigiByte paints a rather bullish picture when taking multiple considerations into account.
First, we have an explosive move off a long-term support. The low prices printed in the first quarter of this year are confluent with levels going back as far as 2015.
Next we have a daily equilibrium pattern (higher lows, lower highs) following the impulse. In an upward market, this represents bullish consolidation a majority of the time.
On-balance volume also shows a strong move up on the daily and 3-day charts.
A reclaim of 255 prior daily swing highs would give confirmation of a breakout, and MTF-HTF targets would then be 369, 450, 542.
First, we have an explosive move off a long-term support. The low prices printed in the first quarter of this year are confluent with levels going back as far as 2015.
Next we have a daily equilibrium pattern (higher lows, lower highs) following the impulse. In an upward market, this represents bullish consolidation a majority of the time.
On-balance volume also shows a strong move up on the daily and 3-day charts.
A reclaim of 255 prior daily swing highs would give confirmation of a breakout, and MTF-HTF targets would then be 369, 450, 542.