DOGE out of space soon in this triangle... will we see a move? Indicators look neutral right now, so we can only wait for it... Set alarms and catch it... Good luck traders
indicators are not neutral, rsi rising with no price increase as well as MACD centering with no price increase. Very low volume levels, meaning higher probability this goes downward.
PhilosophersStone
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@markus41, RSI had an only higher bottom and coiling up in the middle of the range, tops of RSI were at the same level, and if you look better, just following the price action. From that point, nothing tells us that it should go up or down... "Very low volume levels, meaning higher probability this goes downward." I really don't know how you came to that conclusion, since the price is in the range, If the price was going UP and volume going down, you could conclude that reversal could be near, but even that is not right. In that case, you could only tell that move you are watching is losing strength and that end of it could be near. Would it mean the price goes down or just consolidate in the next range, you cant know even that man, and not predict that price is going down. IF you mean by RSI rising, that SRSI indicator, on the bottom of the chart, it looks up, and the price was increased, if you zoom in, you can see that SRSI showing that bounce up from support level... Anyway, thanks for the comment man... and good luck trading...
PhilosophersStone
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@markus41, And yes, sure it will go down if BTC pulls him down by another dump. and that fall you cant see on the indicators man... GL
SoupKitchenManagement
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@PhilosophersStone, Volume alone is not what dictated my statement on a higher probability downward motion, but it is basic chart reading. Steep sell-off followed by low volume buying is very typical in a downtrend, and for the other indicators, they are rising but not setting new highs after the drop. Higher lows, lower highs + rising indicators = weak upward motion. I can send you information on the indicators and how to read them if you'd like.
PhilosophersStone
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@markus41,
"Volume alone is not what dictated my statement" = "Very low volume levels, meaning higher probability this goes downward." What is this then? In the sentence before that one, you were commenting on MACD and RSI. I can only read what you wrote...
s01.geekpic.net/di-IGORRY.png and is this RSI rising man? On close-up, you can see what it is. Maybe you should look zoomed in, it's never too late...
You told one thing, now you talk about another, I comment only on what you wrote...
And I didn't state that this is BULLISH anywhere, You should know better, If BTC was going to 50k that this would turn up, and if BTC drop to 40K this would go down. With indicators in this position, PRICE CAN GO ANY DIRECTION...
And I don't have any more time to waste on this man. I wish you the very best and good luck
If you don't like it, you don't have to watch it...