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Crypto Market Analysis

CFI/BTC Did You Buy It?


Cofound.it (CFI)


Market Cap: $19.54M

Circulating Supply: 325M CFI

Max Supply: 0 CFI

Volume (24h) $472.54K


Technical Analysis


The CFI/BTC crypto pair increased today and it seems like we’ll have a breakout attempt above a very strong dynamic resistance. A valid breakout will announce a potentially larger rebound for the upcoming period. However, you should stay away for now because another leg higher needs to be confirmed. CFI/BTC has shown little action in the short-term, signalling that the bears could be exhausted. The price is moving sideways somehow in the short term, that’s why we need to be very careful because anything could happen.


 

You can see on the Daily chart that the rate has finally managed to break out above the first warning line (WL1) of the descending pitchfork and now has reached the downtrend again. The price has failed to reach and retest the downtrend line in the past week signalling a bearish pressure. A valid break out above the downtrend line could help us to go long on this cryptocurrency.

I’ve drawn a minor ascending pitchfork, so a breakout above the downtrend line followed by a retest of the lower median line (lml) will confirm a rebound in the short term.


Conclusion


We can buy CFI/BTC if the rate stays above the 0.00000711 static support and within the ascending pitchfork’s body. The first important upside target will be at the median line (ml) of the ascending pitchfork. A failure to breakout above the downtrend line and a valid breakdown below the 0.00000711 level will invalidate the bullish scenario for now.

Categories
Crypto Market Analysis

DigiByte – Can We Have a Bulls Attack?


DigiByte (DGB)


Market Cap: $361.82M

Circulating Supply: 10.30B DGB

Max Supply 21B DGB

Volume (24h) $2.05M


Technical Analysis


DGB/USD changed little today and seems undecided in the short term. Price has found a temporary support and now is struggling to stay higher even if the selling pressure is still high. The rate increased in yesterday’s trading session and closed above a dynamic resistance.

It is still premature to say that the rate will start another upside movement. Only a false breakdown is enough for us to go long again. We still need a confirmation that the rate will increase significantly again.


 

The price has started a corrective phase, after the failure to make a valid breakout above the median line (ML) of the ascending pitchfork. DGB/USD has turned to the downside also because the crypto market has plunged in the short term

The rate has reached the lower median line (LML), which represents a crucial dynamic support. A valid breakdown below this level will open the door for more declines. As you can see, the rate has made a false breakdown below the LML and now stands above this downside obstacle.

DGB/USD has shown some oversold signs where it has failed to reach and retest the sliding line (sl) of the descending pitchfork. The next days will be crucial for the DigiByte because a valid breakdown will invalidate a potential upside movement.


 Conclusion


Personally, I believe that a rejection from here followed by a valid breakout above the upside sliding parallel line (sl1) will bring a great buying opportunity. The next major upside target remains at the median line (ML) of the ascending pitchfork.

You should know that it remains under selling pressure as long as it stays below the upside sliding line (sl1).