4 hour renkos doge to the moon. I would like to point out some key trends I've notice over dogecoin recently. First of I trade on kraken. It was very wild to see that doge has moved up so fast. I've been messing with doge since It was viable to me for two things. Consistent market making profits, and a low transaction cost way of moving currency between exchanges. XLM still works well for the lower transaction cost. Than I turn back Into what I'm really Interested In. But Kraken was moving up perfectly to break the high from the recent pump, and dump. But It ended the following rally at the exact same point of .088. Wow scary but the market recorrected ~25 percent In the next four hours. But after Doge was still In a parabolic state. In my opinion It overstayed It's welcome. Since than On kraken I'm currently looking at a beautiful four hour chart. After pushing towards a new local low at .0617330 on kraken We've seen higher lows, and higher highs. It's Important to not these are extreme velocity movements. 15 minute candles going down 10 points from .08 to .07. Yet over the past four hour periods things have changed as the velocity has dropped continuously. So what does this tell us? Well Doge Is taking In all of that recoil posing Itself for extreme movements In one direction. It's looking primed for breaking new high highs after coming down to earth to balance the technical side. This could be a beautiful rally. But this does not constitute any investment advice. Simply pointing out what I see.
Let's dip Into the chart I posted on renkos of doge. Renkos are great for analyzing overall direction of markets. This Is because they are very difficult to make. Put simply whatever chart your'e using they take that integar x 14 periods default. Now If you the Average True Range over that period It has to break a certain point to make a block. Or to move down break blow a point. As you go down with Renkos In charts from say this you will see a lot more Insight Into where doge Is, and has been heeaded. Notice the four hour renkos starting to form for doge. Than pull back. Note these higher level renkos for doge are a much less frequent occurrence. So I'm keeping my eye on the market for that next step up to hopefully breakthrough 10 cents and push up hopefully to the 15 cents range. Although technically speaking the fundamentals are what's bringing our Analysis of past data out of proportion. 12 or 12.5 Is more realistic from just a technical perspective alone. It's very Important doge was able to match the pump and dump on It's own. Now I'm watching for the velocity to move one way or another. When we do push up and make our next new high high the market Is Ready for that. Compared to when we were going parabolic recently. Yolo!
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