Hi friends hope you are well and welcome to the new update on Digibyte (DGB).
On the daily chart, the price action of the DGB is completing the last leg of the bullish Butterfly pattern and soon it will be entered in the potential reversal zone.
Buying and sell ranges:
The buying zone starts from 1.27 to 1.618 Fibonacci levels, and the sell zone can be the Fibonacci projection between 0.382 to 0.786 .
Stop loss:
The maximum extent of the potential reversal zone at 1.618 Fib level can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 87%, and the loss possibility is only 19.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the daily chart, the price action of the DGB is completing the last leg of the bullish Butterfly pattern and soon it will be entered in the potential reversal zone.
Buying and sell ranges:
The buying zone starts from 1.27 to 1.618 Fibonacci levels, and the sell zone can be the Fibonacci projection between 0.382 to 0.786 .
Stop loss:
The maximum extent of the potential reversal zone at 1.618 Fib level can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a huge profit possibility of 87%, and the loss possibility is only 19.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
