Dogecoin · The Best Possible to Enter Long

262
There is something here... This DOGEUSDT weekly chart. Something is starting to stand out, to come out of this chart.

The support zone, brown, close to the (c). Five weeks closing above this level and not one close below. In all this time, only two weeks managed to enter it only briefly. The 2-Feb week low remains unchallenged. Consolidation continues to happen above support.

What stands out is a lack of bearish follow through. A lack of bearish conviction. A lack of sellers pressure. A lack of a bearish move.

Look at the falling wedge, a passive breakout. Dogecoin moved out of it sideways rather than breaking up. No more resistance based on the chart structure. There is plenty of room available for growth.

This chart is calling for very strong bullish action next.

Can the sideways period extend? Absolutely, but the chart favors a major move happening right away. The market can take as long as it needs, but there are no sellers around, and the bulls are ready for change.

This is another strong chart setup. Sideways for two months—support confirmed. A very high potential for reward with very low risk...

Dogecoin is looking bullish and ready to move higher. The market is trading at bottom prices. The best possible to enter a long trade.

Namaste.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.