Long

Doge Coin might be going parabolic.

Updated

It started going parabolic before the most recent BTC surge, which means this might be independent of that.

I am long on this. It's been a very long time since this broke out, and the fact that it was independent of BTC speaks to it potentially being a good independent opportunity.

If this is the start of a parabolic move, it could have massive potential.

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Normally Alt crypto currency follow BTC. They don't usually lead. This is highly unusual, and I am in on it.

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I think this got hurt by the fact that Robbin hood restricted buying with unsettled funds on crypto. So people aren't able to inject cash into it like they would like.

Right now, the monthly VWAP is holding the line though. We will see what happens. I bought more when it touch it.

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On the weekly, we don't know where is it at. It achieved a higher high, and higher low, but on weekly candle does not indicate an uptrend. And uptrend requires at a bare minimum two consecutive higher highs, and higher lows, and conversely a downtrend the opposite.

We don't know yet how this is going to play our on the weekly. But on the daily we have this:

It was a higher high and higher low, followed by a lower high, and lower low (uptrend broken, but not establishing a downtrend.) It was then followed by a higher high, and higher low (again no confirmation here, because we would need to see at least one more higher high, and higher low to re-establish an uptrend on the daily.)

So right now, we are in no-man's land on this. It could go either way. But the momentum is strong to the upside on this. Especially considering it has been defending the monthly/yearly VWAP.

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I will also add this as my commentary on this which I also posted on numerous Reddit forums:

This might be unpopular, but I would like to purpose an idea that supports this move, and also protects individual's capitol. YOU CAN TRADE AND HOLD.

I made this post in regards to DOGE coin (a so called "crypto currency"), but it applies equally to GME, and AMC, ect... The only difference is, this crypto is not undergoing an attempted (and hopefully eventually realized) short squeeze against major hedge funds, and market makers.

As such, what WSB is doing here, actually has more moral standing, as opposed to the move in DOGE coin, which has moral standing in the terms of the ability to get a lot of small time investors, and traders in on a crypto that doesn't take 30k to buy one coin (like BTC.)

This is cut and pasted from the Crypto, and Doge coin posts I made, and I will delete those specific parts related to that "security".

Disclaimer: This is not financial advice, only my opinion.

Getting back to my thesis here, basically what I am saying here is you can take half of the money (that you are willing to lose, because in all trading or investing you could lose it all, so you should only be working with money you can afford to lose), and buy and hold GME (or AMC, or whatever this community is behind) until if and when it becomes clear that a downtrend is established. And you can use the other half to trade it.

This idea on here that you should just buy in with all your money and just hold it is a bad idea. And a lot of people could get hurt by this.

The advantage of this approach is that, 1) You are holding, making the resource more scarce, and driving up it's intrinsic value. And 2) You are profiting by trading the swings, thus giving you the capitol to buy and hold (and trade) more.

Dollar cost averaging also comes into play here, because if you bought in at a higher price point than the current price, and are sitting on a loss currently, you can get your self back to even this way, and eventually profitability.

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And this:

We could actually do more collectively if we didn't think of ourselves as "retards" and "degenerates".

Disclaimer: This is not financial advice, just my opinion.

Just think of the power we could have if we worked together defending important levels, like the VWAPs (daily, weekly, monthly, and yearly), and other indicators like the RSI (oversold levels).

People should not be buying blindly into this, we should be collectively be defending (buying into) important levels, as mentioned above. There are people on here who are very knowledgeable about trading, and investing, and technical analysis. If we really want to succeed in this effort, we need to become more sophisticated about putting our collective efforts into defending these important levels.

These are what all big time traders, and investors are looking at. And if we defend them, and show we have have sophistication of knowledge, in addition dedication, and moral perseverance, they will have no choice but to have to respect us.

We are not degenerates, and we are not retards, and we should remove those words from our vernacular, because people who are literally retarded, aren't so by choice. They deserve our compassion, and help.

I am not a degenerate, and I am not a retard. I am a highly functioning individual, and proud of it, and I feel compassion for people who are truly retarded.

I love what WSB is doing, #BreakTheSystem, but this is the one thing about WSB I don't like, and can't get on board with.

If you all want me to get on board with you all, you all need to stop that bullshit.

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I am still long on this, and think this has the potential to go parabolic.

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I still think the upside potential here is very strong.

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Do you see what I see?

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My Thesis on this has not changed, I still think it's quite possible this is going parabolic.

And we got a very good sign today after a disappointing week. It broke 2 of the three major down trend lines (resistance) on the daily, and hit the third and uppermost one (but was rejected off of it. That's not a bad thing, it was naturally going to be rejected off it. The real test will be if it can break above it. If it does, I think it is going to skyrocket again. This is not financial advice, just my opinion.

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Update on Doge:

The trend lines have become much more clearly defined:

I am hoping for a break above, not a break below. The growth potential could be amazing.

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People get ready. There is a train coming:

youtube.com/watch?v=h8NWqO85P6Y

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There are lots of stars aligning here from a technical analysis perspective.
We keep getting support on that horizontal line.
We have just broken out above that down trending resistance.
The Stoch, and STOCH/RSI are over sold, and the RSI has held at 50.
The accumulation/distribution is a bit worrisome. But it could easily flip back up.

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As always this is not finicial advice, just my own perspective, and analysis.

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Update:

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Don't say I didn't tell you all so...

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Hmm...

eb8

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