DOGECOIN TO $1.00?! - BULLISH ANALYSIS
As shown in the chart, Doge is currently holding above a strong uptrend line and bounced off a support level around $0.37.
I also ran my Fibonacci tool from the most recent swing low at $0.158 to the swing high at $0.74. Price was in between the 0.5, 0.618 golden zone.
If you zoom into the 1h chart, you can see a double bottom pattern as well with both points bouncing off the 0.37 support level.
Not only was there a double bottom pattern, Elon sent out his tweet that day on May 13/2021 mentioning that he's working with Doge devs. Price then pumped to $0.50+.
Despite all the crap Elon talked about Doge on SNL and the following dump in price, I did not think price would fall below the $0.35-$0.40 area, so it was a definite buy.
I also ran my Fibonacci tool from the most recent swing low at $0.158 to the swing high at $0.74. Price was in between the 0.5, 0.618 golden zone.
If you zoom into the 1h chart, you can see a double bottom pattern as well with both points bouncing off the 0.37 support level.
Not only was there a double bottom pattern, Elon sent out his tweet that day on May 13/2021 mentioning that he's working with Doge devs. Price then pumped to $0.50+.
Despite all the crap Elon talked about Doge on SNL and the following dump in price, I did not think price would fall below the $0.35-$0.40 area, so it was a definite buy.
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