If DOGE cannot prove that this isnt the case. By all likelyhood this is what is going to happen.
Please see the descriptions on the chart above. We are now witnessing the long term support since May, being eaten up by sell orders. If price cannot break above, we will reach the apex of the triangle where there are no more buy orders left. As a consequence, price will capitulate as the selling pressure has to sell for lower prices, exponentially.
I see the natural capitulation point at 0.05 - 0.09.
Please discuss below if anyone has reasonable counter arguments to this theory, thank you.
Please see the descriptions on the chart above. We are now witnessing the long term support since May, being eaten up by sell orders. If price cannot break above, we will reach the apex of the triangle where there are no more buy orders left. As a consequence, price will capitulate as the selling pressure has to sell for lower prices, exponentially.
I see the natural capitulation point at 0.05 - 0.09.
Please discuss below if anyone has reasonable counter arguments to this theory, thank you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.