CDOGEUSDT: Bullish Consolidation at 61.8% Retrace and SupportAfter what has been a fast and aggressive 32% Decline, CDOGE has formed a Double Bottom with MACD and RSI Bullish Divergence at the 61.8% Retrace which happens to align with Support and now has climbed back above the 21SMA. With all this in mind I think we will come back up to Square Up and undo that big bearish candle and i addition to that I think we could be setting up for an AB=CD BAMM which would take us up to the 1.618 Fibonacci Extension.
Dogecoins
Dogecoin at strong Floor Bullish Volume increasingLong Term sideways
short term Bullish
Doge is at strong 3xtimes robust support area
STRATEGY COUNTER TRADE Bullish
Stop area below 2nd support
Profit Target §x tested Resistance which is long term POC
Look at the Chart
The proior Bullish trend broken because many took profits
The price of Dogecoin (DOGE) has dropped by 1.5% in the past 24 hours, with its slip to $0.070790 canceling out a brief return to a $10 billion market cap earlier this morning.
TikTok Hype - Dogecoin EXPLOSION? Selling Points and Resistance DOGE COIN TikTok Hype EXPLOSION - Selling Points and Resistance Lines
TikTok, a popular app with over 2 billion young users is hyping up DOGE Coin and the videos are trending as of now. Their goal is to get Dogecoin BINANCE:DOGEBTC to $1.00.
As of July 8th 2020 at 12:01 AM, Dogecoin stands at 0.00417005 USD (4/1000th of a dollar) and has risen 118% in the last 1.5 days alone.
This will most likely follow the standard #impulsewave 12345-ABC structure.
BINANCE:DOGEUSD
This is going to result in a short term explosion and will most likeley crash back down to around 0.0024 USD, as good ole $DOGE always does.
No worries, hype trains are fun to ride, and TikTok is more powerful than any of us realize! We'll see if these kids can do the impossible (but is it impossible though?)
If Doge goes to $1, I'll have to buy the Dogecoin Lambo.
JOKES ASIDE ---
This exposure is great for the cryptocurrency Market and adoption as a whole. Millions of new users will be introduced to the world of investing and cryptocurrency.
DISCLAIMER
Please beware of hype trends like this. If you know how to invest and have knowledge and experience with impulse waves, go ahead.
However, I am no financial advisor. If you don't know what you're doing, I do not suggest investing/trading Doge. If you are experienced, invest at your own risk!
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