A Bullish Long-Term Chart | DGBUSDT

This is how a bullish long-term chart looks like, we will explore this example using the DigiByte vs Tether (DGBUSDT) trading pair.

We will explore some of the basic signals we already visited as well some new ones. Later on we will move to candlestick reading, indicators, chart patterns, Renko and much more.

Here is the chart:

DigiByte vs Tether (DGBUSDT), Long-Term Bullish

Let’s read the chart together for learning purposes… Follow me!

  • In April 2021 DGBUSDT peaks and starts dropping. The volume is high when the peak is hit and decreases as prices move down.
  • In March 2022, after a rebound, the drop accelerates and volume increases, bearish volume is high.
  • By November 2022 we have a very strong new low, in this case the bottom, yet the trading volume is decreasing. As the new low is hit bearish volume is much lower, the bearish trend is losing strength.
  • The next week/session, right after the bottom, 14-Nov. we have a Doji, this is an indecision candle. When it shows up after a new low is hit it signals indecision of the previous trend. Several green candles follow which tells us that the bearish trend is likely over.
  • The 12-Dec. candle/session we see an inverted hammer with really high bull/green volume, this confirms the Nov. low/bottom, the Doji reversal signal and the potential change of trend. We will go deeper into candlestick reading in future lessons.
  • In the 2-Jan. 2023 candle/session DGBUSDT breaks and closes above EMA10. The bulls now have the upper hand and the RSI is trending up.
  • A few more green candles work as confirmation. A break above EMA21, the RSI is now really strong.

All these are bullish signals developing after a new low/support was hit in November 2022 on low volume. This tells us that the early trend reversal signals we saw were real, have been confirmed and the trend is changing.

In that case, we map the targets and we see easily 500% potential on the next bullish wave.

This is how a bullish chart looks and it is very easy to trade.

Buy and hold… Selling will become possible only after a long-time wait.





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