$DOGECOIN Fractal's
Updated
Fractals Fractals Fractals... I feel blessed for the opportunity to trade these beautiful formation.
What is a fractal you ask? Well, a fractal is a recurring pattern that exponentially increases/decreases in size and structure. The more geometric the fractal, the higher the probability is of the pattern continuing either bullish or bearish. Ask yourself, "Which side of the trend am I on?."
Now that we know what a fractal is, can we see any repetition of structure inside Dogecoin?
Taking a look at the 12hr chart, I have marked down three fractal patterns in which i feel have very strong bullish implications.
Remember that fractals can vary in geometric size and proportion, so the next thing to watch for is repetition. Can we see any similar patterns playing out repeatably? If so we may be inclined to believing a fractal is in its progression.
Now, enough talking... How about we analyze this chart!
Fractal 1 gives us a very large bull run followed by an ABC falling wedge retracement back to the trend line.
Break outs from falling wedges are a very profitable trade set up that we often see inside crypto. Large rallies often produce these falling wedge patterns due to the fact crypto is very explosive and 70-95% retraces happen quite often. Dogecoin happens to repeat this falling wedge fractal often and if we look through the history of Doge's Market Cycles, we can see this very clearly.
Once prices fell back onto the trend line, buyers moved back into the market. This caused a breakout of the falling wedge, and a nice bull rally immediately pursued afterwards.
Now, this is where we see the first signs of a repetitive fractal pattern forming. If we look closely at the second fractal we can see prices retrace in the same ABC Falling Wedge as the first market cycle, The only difference is the size of the market cycle compared to the first. The size is smaller because this is only the first bullish move inside an even bigger market cycle forming.
Lastly, we take a look at fractal three. It may be beneficial to zoom closer and get a better view of what is going on.
Like the first two fractals, once price lands on support of the trend line we see a major bull break followed by the ABC Falling Wedge retrace.
Now are you beginning to see the repetitive market structure inside of Doge?
We are nearing an end to the ABC retrace of fractal three and a breakout of major descending resistance marked by the Grey line.
A breakout of the Grey line would ensure a major bull run will follow along with a bigger more explosive market cycle similar to the one we experienced last summer.
Get your backs packed, were nearing alt season once more!
Thank you for tuning into todays fractal lesson!
I hoped i was able to teach you something and show you one of my favorite patterns to trade.
Please message me or comment any questions you may have below :)
God Bless, JolleyCrypto
What is a fractal you ask? Well, a fractal is a recurring pattern that exponentially increases/decreases in size and structure. The more geometric the fractal, the higher the probability is of the pattern continuing either bullish or bearish. Ask yourself, "Which side of the trend am I on?."
Now that we know what a fractal is, can we see any repetition of structure inside Dogecoin?
Taking a look at the 12hr chart, I have marked down three fractal patterns in which i feel have very strong bullish implications.
Remember that fractals can vary in geometric size and proportion, so the next thing to watch for is repetition. Can we see any similar patterns playing out repeatably? If so we may be inclined to believing a fractal is in its progression.
Now, enough talking... How about we analyze this chart!
Fractal 1 gives us a very large bull run followed by an ABC falling wedge retracement back to the trend line.
Break outs from falling wedges are a very profitable trade set up that we often see inside crypto. Large rallies often produce these falling wedge patterns due to the fact crypto is very explosive and 70-95% retraces happen quite often. Dogecoin happens to repeat this falling wedge fractal often and if we look through the history of Doge's Market Cycles, we can see this very clearly.
Once prices fell back onto the trend line, buyers moved back into the market. This caused a breakout of the falling wedge, and a nice bull rally immediately pursued afterwards.
Now, this is where we see the first signs of a repetitive fractal pattern forming. If we look closely at the second fractal we can see prices retrace in the same ABC Falling Wedge as the first market cycle, The only difference is the size of the market cycle compared to the first. The size is smaller because this is only the first bullish move inside an even bigger market cycle forming.
Lastly, we take a look at fractal three. It may be beneficial to zoom closer and get a better view of what is going on.
Like the first two fractals, once price lands on support of the trend line we see a major bull break followed by the ABC Falling Wedge retrace.
Now are you beginning to see the repetitive market structure inside of Doge?
We are nearing an end to the ABC retrace of fractal three and a breakout of major descending resistance marked by the Grey line.
A breakout of the Grey line would ensure a major bull run will follow along with a bigger more explosive market cycle similar to the one we experienced last summer.
Get your backs packed, were nearing alt season once more!
Thank you for tuning into todays fractal lesson!
I hoped i was able to teach you something and show you one of my favorite patterns to trade.
Please message me or comment any questions you may have below :)
God Bless, JolleyCrypto
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