✴️ Dogecoin | Can There Be More?

14 เม.ย. 2023

When I thought about Dogecoin my first thought was, "Will I have anything to write?"

I've written so much about this pair/chart that as you can see/read, I wonder...

Yes of course, there is more... Let's just look at the chart!

The RSI and MACD just look way too good but I've mentioned these indicators many times in other trade ideas and so we are ignoring those, let's focus on the candles.

The last six candles/sessions for DOGEUSDT have been green, including the current one.

You can never get 6 weekly session closing green in a bear market and the proof is on the left; the chart shows no period of 6 sessions closing green as Dogecoin was going down.

The bottom was hit June 2022 and this is known by the fact that no new lows appear after this date, instead we get a very strong bullish breakout, the indicators go bullish and now we have the action that I mentioned at the start... Very strong bullish consolidation.

After consolidation the action resumes in the direction of the trend.

The bearish trend has been broken as shown by the grey arrows.

All that we have is the bullish breakout which points up.

And thus the current consolidation should lead to additional growth, following up with the initial move. This is supported by the higher lows as well as everything that I've been writing about until this point.

Of course, as some of our greatest analysts on TradingView would say "Nobody can predict anything", "Nobody can read anything, say anything, it is all crazy, random", "The markets are random and unpredictable"... But a genius known as A.J Frost said that markets are random only for those who do not understand them.

It is my pleasure to write again for you today.

I believe Dogecoin is going higher based on the chart signals.

Namaste.