DOGE Coin. A Trend Shift is Taking Shape.

Updated

has seen many a great pumps in 2021, with smaller pumps inside the bigger ones in what looks like a fractal. Recently, DOGE has been going sideways for a whole month. This hasn't happened in a long time. It has always been trending lower and lower. A support line is gaining more significance as DOGE keeps bouncing off of it. I believe we are on the verge of a trend shift, either we remain going sideways for two more months, or we see a new pump soon that is greater than the recent weak 1-day pumps. Moreover, RSI is showing a sign of reversal due to stronger lows in RSI coinciding with lower lows in price. Let us wait and see how this unfolds, and whether the next pump is indeed stronger than the last.

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You can view the interactive chart at tradingview.com/chart/1esakjSI/

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So Tesla store decided yesterday to sell certain items like the cyberwhistle ONLY in DOGE! DOGE has seen a significant upward move. I would not jump on this immediately. I would wait to see how the daily candle closes. I hope it closes above my curve. There is still going to be selling pressure from all the miners that have been patiently waiting for a pump since November of last year. But after the dust settles, we can decide whether to hold for another 45% up versus Bitcoin. A day and a half is remaining in our 3 day candle where we started this analysis.

It's great to see that this pump is bigger than the last one. This strengthens the hypothesis that DOGE is seeing a trend shift from bearish to bullish.

tradingview.com/x/w1qRbVPi/x

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Well. The day is almost over, and we sank below the line, and we're popping back above it. I would say this qualifies as closing above the line, and so this is a trade with a stop loss below the swing low, giving you a potential loss of 3% and potential profit of about 12%.

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Doge hourly reversed exactly off the 0.5 fib line. This pump is more likely to remain alive. We beat the recent high in less than a week I predict.

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The 3-day candle has 7 hours left in it to complete. So far so good, If we close above the arc, then we still have the resistance at 477 Satoshi to break.

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On the hourly, I have to say that the previous trade I proposed was premature. However, it's bullish that we never dipped below the 0.5 fib line. In fact, it acted as precise support. Meanwhile, the 0.618 Fib line is acting as loose weak support. This chart makes me bullish. Either Fib line can hold as support, but it is 70% likely that we revisit the top and 30% we break below the 0.5 Fib. Position your trades accordingly.

Doge is volatile so be careful. Stop losses may not work well due to low liquidity or exchange technical problems. Or they may lose you more money than what you risked because of slippage.

TechNerdOmar

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