DOGE much WoW!
#DOGE to a dollar has been a strategy for many investors, even before it was trading at 0.00003 USD. Now, with ranges from 0.15-0.36 in a weeks time, PEOPLE ARE GETTING INTERESTED. As the 1 USD = 1 DOGE narrative plays out, people are piling in to try and catch that wave. And for good reason. While people are struggling to find use cases and Elon Musk tweets, DOGE remains in a firm position as an introductory crypto, getting normies into BTC, ETC, LTC, LINK, and other notable cryptos, as it did for myself in the past, it will do to people in the future.
Ever since it peaked, at about .46, it has been consolidating sideways down to as low as .15 in a falling broadening wedge. It may also be one of the UGLIEST head and shoulders patterns I've ever seen. But regardless, it seems price action has broken the top side resistances and is currently working on flipping the resistance at .378 based on the 0.786 fib extension level. Furthermore, in the past, DOGE has been known to run VERY EXPLOSIVELY. My price targets for breaking out of this falling wedge is at about 0.6485, for the break of the ugly head and shoulders, I'm targeting 0.5824, breaking out of what may also be a bull flag, targeting 0.7083 and ultimately the 1.618 fib extension at 0.7352 and beyond. If the move is even more explosive, it may even tap the 7.236 fib extension, at about 1.6695. I am currently adding to my positions at these levels, and targeting a minimum of 0.69 before I personally take profits, because of the spirit of doge.
Ever since it peaked, at about .46, it has been consolidating sideways down to as low as .15 in a falling broadening wedge. It may also be one of the UGLIEST head and shoulders patterns I've ever seen. But regardless, it seems price action has broken the top side resistances and is currently working on flipping the resistance at .378 based on the 0.786 fib extension level. Furthermore, in the past, DOGE has been known to run VERY EXPLOSIVELY. My price targets for breaking out of this falling wedge is at about 0.6485, for the break of the ugly head and shoulders, I'm targeting 0.5824, breaking out of what may also be a bull flag, targeting 0.7083 and ultimately the 1.618 fib extension at 0.7352 and beyond. If the move is even more explosive, it may even tap the 7.236 fib extension, at about 1.6695. I am currently adding to my positions at these levels, and targeting a minimum of 0.69 before I personally take profits, because of the spirit of doge.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.