Short
ELON needs a handle to the cup
Poloniex has the longest price history in TV for Dogelon showing a perfect cup formation since May. A week ago the top was reached and the formation of the handle started. The retracement so far has respected the upper trendline down depicted in the chart. There has been quite some volatility, even a 85% pullback up to the trendline. Do not get fooled, as long as the trendline is not broken the downtrend continues. Note that the correction can continue even after a breakout if it is a false breakout.
It is normal that the handle goes down from one third to one half of the cup. Therefore, I am expecting a retracement between fib levels 0.382 and 0.5 i.e. I am looking to buy from the range 36-57 (lots of zeros there in front) . Note that the price can revert sooner and can go deeper, you never know with these hype tokens.
Trade with caution and take care.
Cheers
Whoop
It is normal that the handle goes down from one third to one half of the cup. Therefore, I am expecting a retracement between fib levels 0.382 and 0.5 i.e. I am looking to buy from the range 36-57 (lots of zeros there in front) . Note that the price can revert sooner and can go deeper, you never know with these hype tokens.
Trade with caution and take care.
Cheers
Whoop
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