Crypto Contest March 5: DigiByte

DigiByte (Bittrex: DGBBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, DigiByte began a wave one advance in March 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in July 2018, and the red wave two (blue sub-waves a-b-c) correction ended in February this year. If this wave count is correct, DigiByte should be heading next towards the July 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Zooming out in the weekly chart, I believe DigiByte is currently in the red wave three (blue sub-wave

About the author: Markus Aarnio

I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.