Hello Traders, Dogecoin is making Symmetrical triangle which is indicates a positivity in the market. If the price close above and retest $0.32 level then there will be a final conformation of huge 20% to 25 % up in the market. I have mention the Target area which is $0.39 to $0.40.
I see lower highs and volume decreasing? Didn't think that was a good thing. rooting hard but feels like we losing it...
Patel_Pratik
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@jasonu38, yes volume is decreases but next 2 days are very important as doge did not close below $0.30 for 2 days and i am expecting if we go further for 2 more days then there will be very strong upward momentum we will see. If we close below $ 0.28 then it will be a bearish momentum so we have to wait and watch.
jlayfield85
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Nice.
Mudrex
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do you have a support line if the price breaks below the triangle?
Patel_Pratik
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@Mudrex, yes it is at $ 0.28 if the price broke the triangle.
NickTheGreatStockTrader
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@Patel_Pratik, Doge broke the triangle to the downside. I was rooting for the bull case but now it's looking slightly bearish, as the bullish trend is now over. Overall crypto market is also bearish today. Here is a picture of my analysis (I would've posted this if you didn't!)
As you can see, Dogecoin is most likely going to drop down to about 25 cents. Longer term Dogecoin will probably reach 0.40$, but after a 100% rally a correction is needed to shake out weak money and get even more people interested in buying the dip. They've already seen how high Dogecoin can go; now people are just waiting for an attractive entry. Personally I'm thinking about selling my position and buying at a lower price, but diamond hands is also something we can do.
sagarsolanki
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Looks like we broke the triangle and are heading lower before we go back up, another chance to get in if you missed out at $.20