Doge, doge, doge. What can I say about this classic joke coin? Quite honestly a lot but allow me to get this out of my system….. Joke coin, dog coin, poop coin, Elon fan boy coin, please leave a comment of your favorite nickname for doge coin.
I’m not a fan of doge coin and that’s not a secret within my circle. BUT I do respect the way doge moves when it pumps. I haven’t seen many coins produce the gains and market excitement that doge did a few years ago. If you capitalized on those astronomical gains from doge a few years ago you have my upmost respect.
Simply looking at the chart on the weekly/monthly time frame it looks like doge needs to go parabolic before it goes parabolic. Hear me out. If doge starts to pump 100% or more within a short period of time(less than a month) that alone will drive in enormous amounts of capital. That’s when doge can power to and beyond .30, .40 and above. I mean we’ve seen it all before based off of tweets right?
The technical analysis side of doge on the weekly time frame looks great but is hard to do much TA on due to the sideways movement. Doge was below a trend line moving sideways for quite some time. You can see a few months ago doge broke above that trend line then 4/5 weeks later we retested that same trend line, went side ways then recently made a move higher.
The past 6 months doge is up 67% which is very impressive on its own. But like I said earlier when doge moves it’s quite the spectacle. As long as Bitcoin continues to show strength and Ethereum continues to grind higher I fully expect doge to move to the .618 fib level in yellow at .23(in the short term).
The real test to the upside is the red box of resistance at .13/.14 which would put doge up a little over 100% within a 6 month time frame. Which could be the fuel to the flames that doge needs for a leg higher to the .618 at .23
When doge starts going parabolic all the over head levels will only be stops to refuel the rocket to Mars.
Trade smart, take profit and repeat.
I’m not a fan of doge coin and that’s not a secret within my circle. BUT I do respect the way doge moves when it pumps. I haven’t seen many coins produce the gains and market excitement that doge did a few years ago. If you capitalized on those astronomical gains from doge a few years ago you have my upmost respect.
Simply looking at the chart on the weekly/monthly time frame it looks like doge needs to go parabolic before it goes parabolic. Hear me out. If doge starts to pump 100% or more within a short period of time(less than a month) that alone will drive in enormous amounts of capital. That’s when doge can power to and beyond .30, .40 and above. I mean we’ve seen it all before based off of tweets right?
The technical analysis side of doge on the weekly time frame looks great but is hard to do much TA on due to the sideways movement. Doge was below a trend line moving sideways for quite some time. You can see a few months ago doge broke above that trend line then 4/5 weeks later we retested that same trend line, went side ways then recently made a move higher.
The past 6 months doge is up 67% which is very impressive on its own. But like I said earlier when doge moves it’s quite the spectacle. As long as Bitcoin continues to show strength and Ethereum continues to grind higher I fully expect doge to move to the .618 fib level in yellow at .23(in the short term).
The real test to the upside is the red box of resistance at .13/.14 which would put doge up a little over 100% within a 6 month time frame. Which could be the fuel to the flames that doge needs for a leg higher to the .618 at .23
When doge starts going parabolic all the over head levels will only be stops to refuel the rocket to Mars.
Trade smart, take profit and repeat.