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!
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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.
the day robinhood gives keys away is a day when doge will just rip... as they expand their crypto side its 100% considering tossing money into their IPO its an ultra simplified way to get into either side of the markets... they are going to explode. doesn't matter if you like em or not hard to deny whats happening
bonic
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@JamesRunningLongAbbe, Good point actually. However, in this case. I'm mostly showcasing the indicators, how you could use them. Once it gets confirmed, we can add this to our reference. Appreciate commenting!
JamesRunningLongAbbe
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@bonic, i think the easiest way to add and show proof on an indicator is when they hand out the keys to everyone... just look at the volume it should increase by a shit ton... i've bought and sold 300,000 doge at a time many times and i never see the volume reflect that so i always assumed robinhood isn't reporting those sales or buys but rather they are buying and selling when they can get the best price.. now i could just be blowing smoke on that side of it its just speculation... but once people have control of their own keys you should see it reflect in the volume...
JamesRunningLongAbbe
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@ArtfulDodger1974, i agree, the damage the robinhood caused was nothing to the good they have produced in the world of investing... it wasn't long ago when places like E-Trade would charge almost $10 a trade... now most of those places only charge for contracts... normal stocks are free the way god intended things... but there are areas of the business that should still be changed like a commitment and promise to getting people the best possible price and possibly changing the interface to their website and app to make it easier for customers to execute trades at a proper price switching between screens in hopes the price doesn't move beyond your target is a little concerning to me... it wouldn't be hard to add some sort of refresh button that put you within range of the buy/sell price if customers are trying to exit quickly.... it really doesn't take much effort to give your customers the best edge possible all while the company itself remaining profitable... i mean its quite simple really.. you give your customers the ability to compete on a competitive level with the rest of the market and you'll find that everything grows.