Doge Important Update I believe we may see a large pullback too .15 as we approach October.
I analyze the S&P 500 chart from time to time & we have just hit the top resistance in the uptrend we've been in since Feb 10th. We may see a large pullback of about 30% which will also have an effect on Bitcoin, with that being said we all know that Bitcoin controls the Crypto Market so we will all follow.
There is still a chance for us to consolidate, but I wanted to give you all a heads up as we move forward. This does not mean we are going to zero, it just means we may see a healthy pullback before the Q4 bull run.
I do hope it doesn't pan out this way, but wanted to give you both sides of the coin.
Dogecointrading
Doge Consolidation or Sell-OffI placed arrows that are correlated with the RSI, Green represents the Oversold & Red represents the Overbought.
Where we are now is at an Oversold zone, which I do believe we may see a Bullish reversal to test .30 through the weekend with a consolidation above .25
Or we could see a Sell-off & create a Double or Triple Bottom like we've seen plenty of times from previous Oversold areas.
Doge crucial times We will see .24 as we head into the weekend but must watch to see if we break the .23 Support level, thennwe may be seeing a complete bearish reversal. If we are able too bounce off of .23 then retest & break through .24 getting into .25 then we'll be heading in the right direction.
Doge Uptrend setIt appears we have created another Uptrend, next we may continue to slide down towards the lower resistance which should shoot us back up towards .30+ moving into mid Friday.
As we head into the weekend we'll need to re-asses the next pattern, which could be another healthy pullback towards the .305 support then another Bull run heading into next week.
Doge Double BottomThe RSI Indicates we've created a Double Bottom which should get us up above .29 & may even test .30 heading through the night into Tuesday morning.
I've labeled 2 potential patterns that may unfold moving through next week. We may pass .29 test .30 then fall below the support at .28 then continue downwards in this bearish trend.
Or we could break through the .30 resistance with a retest & continue moving through the .30's creating a new Bullish trend.
Doge eyeing a .26 resistance for a ReversalWe have been on a healthy pullback which has created a solid buying opportunity to Avg. down or continue to stack your bags.
We're currently nearing a strong resistance at .26 which if you take a look at the RSI is also indicating we are Oversold. Typically when we meet a resistance & the RSI indicates an Oversold asset it leads to a reversal. Heading into the weekend we could be headed back up towards .28
Say we cross over the .26 resistance our next resistance would be .24 but it isn't very strong, so hoping we don't fall to that price. If we do, we would see a consolidation phase breakout as we head into the weekend around .24 - .26.
Doge needs to get above the 50 EMA If we're able to get above the 50 EMA that's a strong indication of a Uptrend fixing to happen, so if we get above it & the Volume pick up we should see a big push above the upper trend line rolling into Thursday morning.
If we hit the 50 EMA we could see a rejection & continue to call into a Consolidation phase sticking around .27 heading into Friday.
Doge critical Tuesday Night RunWe may have just witnessed a Fake-out, looking to get rid of the paper hands before the next leg up. We are currently still in this Bullish Pennant & may begin our next swing upwards through Tuesday Night & into Wednesday morning.
If we are able to bust through the top of the pennant, this may be the beginning to a big Bull run surging through .36+ heading into next week.
On the other hand this very well could be a large sell-off coming which would throw us down to the .26 - .28 range where we would consolidate heading into the weekend.
Doge Pennant PatternTaking a look at the 4hr chart Doge has created a Bullish Pennant Pattern, what we should see unfold next is a surge through the top of the wedge pattern followed by a retest then a nice push Upwards.
If we happen to break this Pennant Pattern & get a reversal, we may find ourselves at the .26 resistance followed by a consolidation phase through the week.
Doge ready for a Wednesday swing We've continued in this wedge pattern for a few days now & seem to be ready for a new pattern tomorrow, Wednesday the 25th.
We've got 2 strong resistance lines below us which are .26 & .28, so if we do fall below this wedge those are the 2 prices we should keep an eye on for buying opportunities heading forward. We could consolidate between the two moving into late Wed. early Thursday morning then looking for where we would be heading next nearing the weekend.
If we jump above this wedge we'll see a retest followed by a jump towards .36+ nearing the end of Wednesday evening nearing Thursday morning. This could be a big week if we're able to continue on this Uptrend as we near the weekend for all of Crypto.