DigixDAO Could be Near the Bottom

DigixDAO downtrend continues as price continues to produce lower lows and lower highs. At the same time DGD/BTC is trading within two descending channels, one inside the other. The interesting thing is that current price is at the bottom of both channels while the RSI oscillator is showing the bullish divergence on the 4h time-frame.

Fibonacci applied to the corrective wave after the btc 0.0288 support breakout shows that 127.2% Fibs is being rejected, although there is no clean bounce of that support. DigixDAO could continue moving lower and perhaps 161.8% Fibs at btc 0.023 will be the bottom of the current wave down.

To summarize, it seems that DGD/BTC is getting ready for a corrective move up or a potential trend reversal to the upside. Nevertheless price still could go slightly lower and more confirmations of the correction/reversal would be preferable.



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