Doge Weekly Analysis - New All-Time Highs Coming!?
Doge has broken out of the descending resistance and made contact with the Weekly 200EMA. The price has now pulled back to the 30EMA, so where do we go from here?
Bitcoin is a leading indicator for the alt market and according to my Bitcoin Weekly Analysis, is pulling back from the Weekly resistance. That pullback will likely hold back the Doge price from breaking out of the 200EMA until Bitcoin can break its resistance and start a bull run to the upside.
Key Points
1. Bull Breakout
2. Resistance at 200EMA
3. Bitcoin leading indicator, pulling back
4. RSI is just above 50.00, wait for a pullback.
If you're looking for a long entry, I would fade your position as the price falls a bit further then enter more once a confirmed break happens above the 200EMA. That requires a strong bull bar closing near its high.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
Bitcoin is a leading indicator for the alt market and according to my Bitcoin Weekly Analysis, is pulling back from the Weekly resistance. That pullback will likely hold back the Doge price from breaking out of the 200EMA until Bitcoin can break its resistance and start a bull run to the upside.
Key Points
1. Bull Breakout
2. Resistance at 200EMA
3. Bitcoin leading indicator, pulling back
4. RSI is just above 50.00, wait for a pullback.
If you're looking for a long entry, I would fade your position as the price falls a bit further then enter more once a confirmed break happens above the 200EMA. That requires a strong bull bar closing near its high.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
-Joe Dean
Trader Engineering Course
**Available Now at TraderEngineering.com**
Trader Engineering Course
**Available Now at TraderEngineering.com**
Related publications
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.