CryptoKraze here
In this post I am going to cover technical analysis of DogeCoin. I am using tradingview charts and price linked to Bitfinix exchange. Let' have a look on technical aspects of DogeCoin.
Possibility on Daily Time Frame
If you look at daily chart, you will see that Doge has broken the bearish trend with a strong impulsive bullish move. Now it need to make a bullish flag so price can pull back a little as shown in chart. If you have missed it picking around 20 mark then you can get in after it make a flag. I expect the price to come down a little because RSI is oversold and it need to settle a bit and price has touched the upper bands. Then there will be a big impulsive move leading it to 80 level or even higher.
- I will wait for little pull back and enter around 38 to 42 area with my profit targets around 80 level and even higher.
- Stop loss are must for trading if you don't know the averaging technique or strategy.
Possibility on 4HR Time Frame
If you look at 4HR chart, you will see that Doge has broken the bearish trend with a strong impulsive bullish move and formed a bull flag. After the 1st bull flag, next impulsive move has formed and wow it need to make a bullish flag so price can pull back a little as shown in chart. I expect the price to come down a little because RSI is oversold and it need to settle a bit and price has touched the upper bands. Then there will be a big impulsive move leading it to 65 level or even higher.
- I will wait for little pull back and enter around 42 to 45 area with my profit targets around 65 level and even higher.
- Stop loss are must for trading if you don't know the averaging technique or strategy.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected pump or dump will make this analysis void.
Doge's appeal to me is not as a speculative instrument- I just liked that it started as a complete joke, and moved into the realm of positive social action (sponsoring the bobsled team, etc.)- it's inspiring that having a good laugh and then acting for something positive might serve as an iconic example of intangible value manifested as hard coin...
It has produced some millionaire last time it soared and it will create new in this surge :)
Dogecoin! To the moon! Actually my good friend sponsored a Nascar driver with Dogecoin in its early days!
This can be a possibility as I mentioned in my blog.
Fun project but not gonna put my money in a good laugh. haha ;)
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