InvestingScope

Dogecoin's stunning repetitive pattern.

POLONIEX:DOGEBTC   Dogecoin / Bitcoin
The coin that started out as a joke out of the Shiba memes has shown incredible strength and consistency throughout the years and in particular the current bear cycle.

A more careful look at the DOGE/ BTC 1W chart, we can easily observe a stunning repetitive price action. This pattern drives the price to the Resistance zone with a frequency of 8 to 12 months, only to pull it back down to the Support zone . The rises to the highs (green candle sequence) are normally strong and quick, while the declines (red candle sequence) are slower. The similarities of the duration of each cycle as measured by the High - High distance are also shockingly identical. Just take a look at the bar measurements.

The last time a rise was observed was in August 2018 (second no 3 sequence) taking the pair two months to reach its high. As suggested by the pattern, the inevitable crash followed, which is not yet complete. Despite the up move since late November, the price should resume the downtrend towards the 0.00000035 - 0.00000028 Support zone and then rapidly rise towards the 0.00000120 - 0.00000137 Resistance zone .




** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (http://www.investingscope.com).

Comments

Nice trend spotting
+2 Reply
InvestingScope GustavoBrucestavo
@GustavoBrucestavo, Thank you!
Reply
Stablecoin of crypto.
+1 Reply
I don't think you know what consistency means :D
+1 Reply
Maybe if BTC goes to 7200 USD ish we will see a 28-35 scenario, could this be a BTC indicator?
+1 Reply
@ikdy, It is indeed a strong probability.
Reply
The Pamp coin
Will show growth as always this coin. Good for trading.
Reply
Doge is the new Ether.
Reply
ahah crazy, I just finished my own analysis, and conclude that the next pic will be April 22 ahahaha :)
I will be ready to buy at the begining of march !
Reply
Maybe we are reaching Resistance 4 before falling to support again.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out