Memes are fun. Technical analysis is real. Bull case for Doge
Updated
Disclaimer: as always, this is not finical advice, just my opinion and analysis.
I have been tracking DOGE for a while now, and my analysis has not changed. I think this could potentially go parabolic, and we just got some strong support from the technical analysis stand point.
It held support, and crushed the short term, and long term resistances.
It pulled back today for a perfectly logical reason. It was out of two standard deviations from the mean on the upside (something Bollinger Bands [an indicator] tracks.) Another very interesting thing about Bollinger bands is that when they contract (get closer together), then often indicate a big move coming.
The Bollinger bands have contracted into a very tight range, indicating a potential very large move.
DOGE has also broken above very strong resistance.
There is a very strong bull case to be made here from a technical analysis standpoint.
I have been tracking DOGE for a while now, and my analysis has not changed. I think this could potentially go parabolic, and we just got some strong support from the technical analysis stand point.
It held support, and crushed the short term, and long term resistances.
It pulled back today for a perfectly logical reason. It was out of two standard deviations from the mean on the upside (something Bollinger Bands [an indicator] tracks.) Another very interesting thing about Bollinger bands is that when they contract (get closer together), then often indicate a big move coming.
The Bollinger bands have contracted into a very tight range, indicating a potential very large move.
DOGE has also broken above very strong resistance.
There is a very strong bull case to be made here from a technical analysis standpoint.
Note
Hmm...
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