Fibonacci Numbers Forecast Higher DGTX

Fibonacci numbers are popular for traders and investors.

Throughout his life, Fibonacci made several important contributions to the field of mathematics. Without question, his most famous mathematical discovery became known as the “Fibonacci sequence” (or Fibonacci numbers).

Today, almost 800 years after his death in 1250, Fibonacci’s numbers are still being widely implemented across several areas. A few examples include the study of nature, earth sciences, art, interior design, mathematics, and, of course, investing.

Any type of industry or field of study that involves repetitive patterns, designs or construction will receive great benefit from Fibonacci’s sequence.

Using Fibonacci Numbers with Cryptocurrencies

Stock market investors have been using Fibonacci (colloquially known as “Fib”) numbers for decades. The use of Fib numbers within the investing community dates back to the stock market boom of the 1920s.

These days, Fibonacci numbers are more popular than ever among traders and investors. Why? Because Fib numbers work remarkably well in forecasting support and resistance levels. Check out chart 1 below.

BTCUSD-63

This chart includes the price history of Bitcoin (BTC) over the course of the past six months. The chart has all Fibonacci levels clearly labeled from 0% to 100%.

Notice how accurately the price of Bitcoin follows the Fib numbers. For example, Bitcoin formed an important bottom on 17th December 2018 @ 3,158.

The Fibonacci sequence was forecasting a bottom @ 3,180. Fibonacci missed the final low by only $22. Now examine the 38% retracement level on the BTC chart. According to the Fib numbers, the next important breakout will occur @ 5,700.

Two weeks ago, Digitex CEO Adam Todd correctly forecasted a big rally in Ethereum (ETH). Adam wasn’t the only one who made an accurate ETH forecast. Check out chart 2 below.

ETHUSD-1

You can see that the Fibonacci sequence correctly forecasted the low in December 2018. The actual low occurred @ 82.40. The Fib forecast was 80.45. Based on the Fib numbers, the next important Fib breakout will occur @ 188.23.

The Next Important DGTX Levels Based on The Fibonacci Sequence

During the past several months, we have used Fibonacci to accurately forecast the future price direction of DGTX. For example, the Fibonacci numbers did a great job of predicting the DGTX resistance level @ .0679.

We mentioned several times that momentum traders would enter the market if the price of DGTX could exceed .0679. That’s precisely what occurred. As soon as the native token penetrated the important resistance level, momentum traders pushed prices higher very quickly. In fact, DGTX is currently trading at its highest level since October 2018.

Where do we go from here? What are the next important numbers for DGTX based on the Fibonacci sequence? Let’s check out the following table.

The next important number for DGTX is the all-time high @ .1606, which occurred on 14th October 2018. In terms of Fibonacci numbers, the most important number is Level 1 @ .1960.

If the native token is able to penetrate .1960, a new group of momentum traders will enter the market. It’s quite possible DGTX could advance to Level 8 very quickly (if .1960 is exceeded).

Based on historical testing and years of real-time trading, Fibonacci numbers have yielded some of the best results in terms of profitable trading. This includes stocks, commodities, precious metals, foreign exchange, alternative assets, and cryptocurrencies.

Fibonacci price levels have become such an important component of each investor’s set of trading tools, that most financial websites and trading platforms will have Fib numbers automatically displayed on the website or platform.

Why do Fibonacci numbers work so well within the financial community? This is a difficult question to answer. However, the most likely reason Fib price levels have maintained their accuracy over the years is because they are based purely on mathematical formulas and natural cycles.

All asset classes rise and fall over long periods of time. This includes cryptocurrencies and native tokens like DGTX. Each Fibonacci sequence provides investors with accurate price levels based on these natural cycles. Consequently, traders and investors should definitely pay attention to the Fib price levels for DGTX.

The Crypto Bull Market in Time for the Digitex Launch

Digitex Futures is launching at a perfect time on 30th April. It appears that the 12-month cryptocurrency bear market is behind us. We are probably in the very early stages of a new bull market. Although we only have 10 years of price activity from Bitcoin, the data suggest that the next crypto bull market will last three to four years.

Most likely, Digitex will have the “wind at its back” with regards to strong investor demand for cryptocurrency trading. Of course, strong demand for crypto futures trading will be extremely bullish for the DGTX token.

Based on the previous BTC bull market, DGTX token demand could increase exponentially by the early 2020s.

Personal Observations

During the past few months, several people have contacted me concerning how to calculate the Fibonacci sequence. During the first 10 to 15 years of my trading career, Fibonacci calculations had to be performed manually. Today, there are several Fibonacci calculators available for free on the internet. My favorite Fib calculator is available on investing.com.

I’ve been using Fibonacci numbers since my trading career began in 1989. However, I don’t use the numbers on a standalone basis. Instead, the Fib numbers are used in conjunction with other technical indicators. However, the numbers are certainly a very important part of my overall trading strategy.

With regards to DGTX, the most important Fibonacci number to watch is .1960.

Momentum traders could easily “bid up” the price very quickly if the native token rises above .1960. Of course, it’s impossible to accurately predict the future price direction of any asset class.

However, it does appear that DGTX (and cryptocurrencies in general) are breaking out into a new bull market. Exciting times for owners of DGTX!

Full Disclosure: I own DGTX.

Digitex Futures writers and/or guest authors may or may not have a vested interest in the Digitex Futures project and/or other businesses mentioned throughout the site. None of the content on Digitex Futures is investment advice nor is it a replacement for advice from a certified financial planner.

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