Wolfy_
Long

DOGE/BTC - time to get back in - falling wedge & strong support

BINANCE:DOGEBTC   Dogecoin / Bitcoin
DOGE/ BTC is currently in a month-long falling wedge and very close to the tip of the pattern which is usually the best time to buy before a breakout.
We can also see it test the previous downtrend resistance which ranges all the way back to May 2019 and now acts as support, you can get a better view of it in Guapeva's analysis which you can find here:

The 25-29 sats range has been a zone of very strong support in the past and combined with the symmetrical triangle on the USDT pair that is showing signs of a slow breakout this leads me to believe that we'll see a proper breakout soon.

Here's my DOGE/USDT analysis which shows the symmetrical triangle:

Comments

target sir
Reply
SvarogPerun alicanrb
@alicanrb, hey mate, price loves to test previous highs, first target should be around 39-41, next 52 then 88, time will tell
+1 Reply
alicanrb SvarogPerun
@SvarogPerun, jesus, don't you say! time range? btw i really liked your Doge/BTC idea but what i do not understand is Doge/USDT idea. What was the support and is anybody really checking the 2 hours charts?
Reply
Wolfy_ alicanrb
@alicanrb Getting the entries and targets right is already hard enough but getting the time range right even more so, no one knows how long it will take so I could provide you with an educated guess at best.
As long as it makes higher lows and higher highs, all you need is patience.
Regarding the USDT idea, the support was the uptrend which started from the first consolidation before the big run-up to 60 sats and connected to the low before elon's tweet.
It formed a symmetrical triangle on the USDT pair and broke out.
Yes, people use the 2hr but the setup stays the same no matter what time frame you use, I just use the one for ideas that shows the setup best without squeezing the candles too much.
Here's the updated 4hr USDT chart:
Reply
alicanrb Wolfy_
@Wolfy_, thanks for info. longed from 33 went to 38-39 did not sell. and got liq this morning. jesus fucking christ BITCOIN. lost much money
Reply
Wolfy_ alicanrb
@SvarogPerun Thanks for providing the targets, appreciate it mate.
+1 Reply
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