DOGEUSD 20-3-2021 TA time! The calm before storm?!
Greetings fellow traders!
Is DOGEUSD about to break out? Well, overal EMI 1 and 2 are pretty bullish. Seeing an ascending triangle in the immediate term. Which side though? Well, I'm bullish bias in this case. I believe the chance of breaking bullish is higher. However, what I believe does not mean it's going to happen, unfortunately. Not sure why some people keep calling it a meme coin. When I look at its blockchain tech. I can see potential. The difficulty of mining dogecoin has risen significantly since 2018. It's undeniable something happens when Elon Musk tweets about it. However, why is the price consolidating and not declining if it's just a "meme" coin.
EMI 2 Analysis:
Money flow is rising as well as its velocity. In other words the amount of volume that's entering the space is increasing.
EMI 1 Analysis:
Yellow X with green diamond becomes relevant due to EMI 2, maybe signaling a bullish divergence.
See current approximate targets on chart. Good luck, be careful and may the trend gods be with you!
Is DOGEUSD about to break out? Well, overal EMI 1 and 2 are pretty bullish. Seeing an ascending triangle in the immediate term. Which side though? Well, I'm bullish bias in this case. I believe the chance of breaking bullish is higher. However, what I believe does not mean it's going to happen, unfortunately. Not sure why some people keep calling it a meme coin. When I look at its blockchain tech. I can see potential. The difficulty of mining dogecoin has risen significantly since 2018. It's undeniable something happens when Elon Musk tweets about it. However, why is the price consolidating and not declining if it's just a "meme" coin.
EMI 2 Analysis:
Money flow is rising as well as its velocity. In other words the amount of volume that's entering the space is increasing.
EMI 1 Analysis:
Yellow X with green diamond becomes relevant due to EMI 2, maybe signaling a bullish divergence.
See current approximate targets on chart. Good luck, be careful and may the trend gods be with you!
Comment:
Bearish break out target for short-term pattern, rising channel. Might be breaking out as we speak. Keep an eye on closing candles below support for bearish continuation confirmation.
