Weekly could close red, It's been quite a run. IMO BTC needs to drp 10-15% to allow for new buyers to come in... Bulls seem to be in the "hold the line" and "moon" mentality. It a good time to think about hedging if you're still holding your longs. I've grabbed some of the BTC3XS tokens and some low lev perps at the pumps just in case.
I'm not saying it can't...
Left Shoulder - 2432
Head - ~ 2700
Right shoulder mid-August - 2550
Neckline - 2200-2300
See what happens..
It's gone up real fast due to bullish sentiment and over-shorting (those candles!). 2700-3000 is full bull trend reversal if it breaks it and holds 3000
I've been wrong before, but I can't see adding to my long ETH at this time. Hedging..
Ichimoku 4hr - Will the bull run continue? I think it's probable, but risk needs to be limited. Eth is holding on to gain better than Bitcoin right now. In Mid January Bitcoin was in the 30-40k range while ETH was in the $1200 range (ETH is keeping around 50% more gains in compaipison to Jan 2021)
The DOGECOIN Ponzi/Pyramid Scheme
- Without increased support from major companies Amazon this will go down as the biggest pump and dumps in history.
- Given the trends, the whales will should be dumping at the mid to end of MAY.
- There's too much money involved for it to not be taken away by the rich.
- Tread Carefully above .60. You've already seen that one...
The 15 min chart with Ichimoku Couds formed a red cloud early in the morning (EU, Middle East, etc taking morning profit).... Doge promptly Jumped back to the uptrend over the red cloud. She is not done yet!
Riding the Support line approaching a major resistance at 0.06 - 0.061. The current growth seems to be most organic since January 28th. By the end of March/early April, it will break the flag pattern.
Support increase since Jan 28th 2021 ~ 130%
Today is March 20th 2021 (51 days since 1/28/21)
130% / 51 days = +2.55% daily support level increase since 1/28/2021