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Looking for Digibyte/Bitcoin (DGB/BTC) to Pull Back

Strategy: Buy on a dip after bullish breakout

  • The 1H Chart shows a bullish breakout yesterday (11/8).
  • Although most altcoins rallied against Bitcoin, Digibyte's rally was one of the stronger ones. 
  • In trading short-term swings, I would not get in here around 150 satoshis unless I am holding for the long-run and trying to double/triple up and in the mean time risking something like 40% of the position. 
  • I think it would be prudent to wait for a pullback towards 130. Here it would be more like 25% risk. 
  • Furthermore, I would like to wait for the 1H RSI to at least come back to 40. 
  • In the short to medium-term, I would limit the bullish outlook to 200, which if we got in at 130, would be a 53.8% gain.
  • This yields a profile of 2:1 reward to risk.

Trade Ideas November 12 - 18, 2017

Cryptocurrency vs. Previous Forms of Money