$DOGE to face some Spring action before we can get uber bullish.
NOT FINANCIAL ADVICE
In the grand scheme of things, Dogecoin is exhibiting accumulation signals, evident by the heavy buying spree whenever price hits SC levels ($0.1527). I read this as whale-buying activity, where they'll have plenty of buy triggers at that level.
As bullish as that may sound, we have not yet been given a sign of a Spring event, aka a revisit of SC levels and touching or breaking that. Heck, we have yet to even see any creek consolidation price action too.
In fact, there is a good chance that we get to see a little pump as the rising tide from bitcoin's ATHs creates euphoric buying signals, but as the market cap of Dogecoin is now too large, the volume may not be enough for it to see a revisiting of its ATH anytime soon.
Perhaps a retest of $0.35 is more likely than not. Perhaps..
More consolidation will be needed to coil price action up (like a spring!) for its next bull cycle run (2024-2025?).
So if a dump towards SC levels is indeed a pre-requisite in the Wyckoff method, then $0.1527 will be a good spot to set some triggers.
But why buy when the price is dumping?
Because the smartest investor on earth advised 'Sell when others are greedy, and buy when others are fearful.'
Happy Trading!
In the grand scheme of things, Dogecoin is exhibiting accumulation signals, evident by the heavy buying spree whenever price hits SC levels ($0.1527). I read this as whale-buying activity, where they'll have plenty of buy triggers at that level.
As bullish as that may sound, we have not yet been given a sign of a Spring event, aka a revisit of SC levels and touching or breaking that. Heck, we have yet to even see any creek consolidation price action too.
In fact, there is a good chance that we get to see a little pump as the rising tide from bitcoin's ATHs creates euphoric buying signals, but as the market cap of Dogecoin is now too large, the volume may not be enough for it to see a revisiting of its ATH anytime soon.
Perhaps a retest of $0.35 is more likely than not. Perhaps..
More consolidation will be needed to coil price action up (like a spring!) for its next bull cycle run (2024-2025?).
So if a dump towards SC levels is indeed a pre-requisite in the Wyckoff method, then $0.1527 will be a good spot to set some triggers.
But why buy when the price is dumping?
Because the smartest investor on earth advised 'Sell when others are greedy, and buy when others are fearful.'
Happy Trading!
