Dogecoin; Huge Bullish Triangle Forming. What's Happening?
Hello Traders! CTDave here again with another daily price analysis chart. It is Dogecoin this time.
The times when DOGE was the number one, had passed, and probably you were one of the people who invested at the peak to find yourself at a loss. Very likely that you were waiting for DOGE to explode, but that never happened, yet... There is still possibly a good opportunity right now! Read on to find out why.
Long Term:
As you can probably see from the chart, the green lines indicate a huge bullish breakout triangle forming. Expect to see a drop down to about $0.05 on the strong demand line (orange) before going up high. If you look at the RSI, you would see that it's almost oversold. The red line shows what I expect further on. Let's take a look at the shorter term 45 minute timeframe.
Short Term:
There is another, short term bullish breakout triangle forming indicated with the think blue lines. I expect the price to go as the thick orange arrow shows. When it reaches the end, it's going to go down to the support zone (thin green and orange lines) before making another high. Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Disclaimer: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
TradingView 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.
The times when DOGE was the number one, had passed, and probably you were one of the people who invested at the peak to find yourself at a loss. Very likely that you were waiting for DOGE to explode, but that never happened, yet... There is still possibly a good opportunity right now! Read on to find out why.
Long Term:
As you can probably see from the chart, the green lines indicate a huge bullish breakout triangle forming. Expect to see a drop down to about $0.05 on the strong demand line (orange) before going up high. If you look at the RSI, you would see that it's almost oversold. The red line shows what I expect further on. Let's take a look at the shorter term 45 minute timeframe.
Short Term:
There is another, short term bullish breakout triangle forming indicated with the think blue lines. I expect the price to go as the thick orange arrow shows. When it reaches the end, it's going to go down to the support zone (thin green and orange lines) before making another high. Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Disclaimer: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
TradingView 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.