Incoming 50% for Dogecoin ??**short term analysis - Days and weeks ahead**
On the above 3 day chart price action has enjoyed a massive 320% rally over the last 2 months thanks to you know who.
A number of reasons now exist to be “short”, despite the myriad of long ideas currently on the platform.
1) Price action prints bearish divergence.
2) Price action was recently outside the Bollinger Band. We know 95% off all price action trades around the mean, which is currently 50% below.
3) Remaining on the Bollinger Band notice the slight inward curve (red arrows)? This is informing you the current extension in price action is now exhausted.
4) Lastly, support and resistance. 20 cents was resistance for multiple months. Healthy market structure would see past resistance confirm as support before the continuation of the uptrend.
Is it possible price action continues upwards and onwards? Sure.
Is it probable? No.
Ww
