DopeCoin (DOPE-BTC) has seen bullish momentum this week since it broke out the long term descending triangle.
The current trend is in perfect sync with the direction of the previous ascending trend line (extrapolated in the chart) and wedging upwards between the 23.6 and 38.2 percent Fibonacci Channel lines.
The predicted trend, based on the observed trend en Fibonacci retracement / channel mentioned in the previous sentence, has a high probability of forming a cup and handle, a bullish continuation pattern. I have also indicated alternative trend movement and possible downward breaks to keep tabs on (the red arrows).
You can enter Dope after the descending first part of the handle bounces back up from the red 23.6% Fibonacci line or at handle confirmation (break out of the yellow trend prediction/near the green arrows).
First sell target: just below the 78.6% Fibonacci line (blue), depending on time stamp reaching target
Second sell target: 1625 satoshi
Stop loss: 650~750 satoshi, depending on time stamp entering
Always trade safe: monitor your trades and set (phone) alerts and stop loss orders.
I share my TA free of charge, if you make a good profit and would like to tip me that is something I will certainly appreciate, thank you.
Bitcoin address: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum address: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
The current trend is in perfect sync with the direction of the previous ascending trend line (extrapolated in the chart) and wedging upwards between the 23.6 and 38.2 percent Fibonacci Channel lines.
The predicted trend, based on the observed trend en Fibonacci retracement / channel mentioned in the previous sentence, has a high probability of forming a cup and handle, a bullish continuation pattern. I have also indicated alternative trend movement and possible downward breaks to keep tabs on (the red arrows).
You can enter Dope after the descending first part of the handle bounces back up from the red 23.6% Fibonacci line or at handle confirmation (break out of the yellow trend prediction/near the green arrows).
First sell target: just below the 78.6% Fibonacci line (blue), depending on time stamp reaching target
Second sell target: 1625 satoshi
Stop loss: 650~750 satoshi, depending on time stamp entering
Always trade safe: monitor your trades and set (phone) alerts and stop loss orders.
I share my TA free of charge, if you make a good profit and would like to tip me that is something I will certainly appreciate, thank you.
Bitcoin address: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum address: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
Comment:
It looks like DopeCoin is recovering from the recent market panic linked to Bitcoins volatility. Follow this link for a graphical update of the current trend with added notes/comment:
www.imgur.com/HwBmvCt
As always trade safe: monitor your trades and set (phone) alerts and stop loss orders, especially at times when BTC is more volatile
www.imgur.com/HwBmvCt
As always trade safe: monitor your trades and set (phone) alerts and stop loss orders, especially at times when BTC is more volatile
Trade active:
DopeCoin going strong at the moment! I have fully updated my TA on DopeCoin, check it over here:
Trade closed: target reached:
DopeCoin has proven to be a very successful trade!
Dope finished its cup & handle continuation pattern a couple of hours ago, after the handle successfully breaking out and peaking at 1545 satoshi.
By now it has retraced a bit, but found new support at the 1340 satoshi cup height, so it might have more in store for us soon. If I find time and see a good signal for Dope I will certainly make new TA, so don't forget to follow me to stay up to date.
Researching and writing TA is something I gladly do, but very time consuming. If you make a good profit based on my TA I would certainly appreciate a tip. Thank you!
Bitcoin address: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum address: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
Dope finished its cup & handle continuation pattern a couple of hours ago, after the handle successfully breaking out and peaking at 1545 satoshi.
By now it has retraced a bit, but found new support at the 1340 satoshi cup height, so it might have more in store for us soon. If I find time and see a good signal for Dope I will certainly make new TA, so don't forget to follow me to stay up to date.
Researching and writing TA is something I gladly do, but very time consuming. If you make a good profit based on my TA I would certainly appreciate a tip. Thank you!
Bitcoin address: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum address: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
This last week the market is reacting sharper then ever to BTC price swings since BTC dipped to almost 10k, coming from 19k.
Just like any other alt DopeCoin DOPE also reacted to the most recent BTC price fluctuation dropping from ~875 satoshi to ~700 satoshi.
The good news for DOPE is that it stopped its decline at the blue dashed trend line; the extrapolation of last weeks bullish trend line. If we see Dash continue this trend line and/or move back to yesterdays trend line, it will still be on track towards the targets of yesterdays TA.
As always trade safe: monitor your trades and set (phone) alerts and stop loss orders, especially at times when BTC is more volatile.