I'll keep this brief.
As expected, Doge has been ranging. The daily chart has formed a Pennant, so we look to lower timeframes to get a feel. 4 Hour chart clearly shows higher highs and higher lows as you can see.
I expect Doge to breakout today/tomorrow and retest the 0.42 zone.
What I will be doing, is holding through that test because we also see a clear range box on the Daily that suggests if Doge closes above 0.35 or so, a new range is formed between this area, and 0.42.
I expect Doge will test 0.42, and I expect it will sell off back down to around 0.34/35, and then I expect it will range and then continue up.
However, we will once again look at the 4hr/1hr charts in that range to get a sense for how it will play out. If there are no strong signals, I will then consider selling and taking profit in the middle of that range for at least a portion of my holdings.
If Doge breaks 0.42 on the next phase.... we'll start to see some of the longer term and long predictions unfold, and yes 1.00 would be in sights for the next target as I think everyone would expect to see a huge rally after the previous ATH is broken.
We'll see...
As expected, Doge has been ranging. The daily chart has formed a Pennant, so we look to lower timeframes to get a feel. 4 Hour chart clearly shows higher highs and higher lows as you can see.
I expect Doge to breakout today/tomorrow and retest the 0.42 zone.
What I will be doing, is holding through that test because we also see a clear range box on the Daily that suggests if Doge closes above 0.35 or so, a new range is formed between this area, and 0.42.
I expect Doge will test 0.42, and I expect it will sell off back down to around 0.34/35, and then I expect it will range and then continue up.
However, we will once again look at the 4hr/1hr charts in that range to get a sense for how it will play out. If there are no strong signals, I will then consider selling and taking profit in the middle of that range for at least a portion of my holdings.
If Doge breaks 0.42 on the next phase.... we'll start to see some of the longer term and long predictions unfold, and yes 1.00 would be in sights for the next target as I think everyone would expect to see a huge rally after the previous ATH is broken.
We'll see...
Comment:
I forgot to mention that we see a nice contraction (moving closer together) of the 50 period SMA and the 144 WMA, and I believe when those arrive closer together is when we see the breakout to 0.42. Nothing wrong with taking profit (or dumping your bag) at 0.42, but as I mentioned, I am seeing enough that I will hold and expect a drop at that level back down to around 0.34 or 0.35.