Hello friends , as you can see in the chart, DOGE has printed a descending Triangle with decreasing volume.
According to my strategy this one is a powerful pattern that should not be ignored which has a high probability to anticipate big moves. The decreasing volume acts as a confirmation.
I say back home because in my opinion this hyped movement due to Elon Musk tweets will not last forever, it already went down a 90% from ATH but I think that more -90% downside moves might be coming.
This is only pure speculation, the pattern is not yet confirmed, If the price manages to close a few daily bars under 0.0723$ I will consider entering a short in the pullback to the same level using a stop loss order at 0.0838$ and with main target 0.00726$, yes , you read well, a -90% move.
I will be glad to see what do you think in the comments, if you think that I'm wrong your feedback will be much appreciated, don't forget to give a boost if you agree.
According to my strategy this one is a powerful pattern that should not be ignored which has a high probability to anticipate big moves. The decreasing volume acts as a confirmation.
I say back home because in my opinion this hyped movement due to Elon Musk tweets will not last forever, it already went down a 90% from ATH but I think that more -90% downside moves might be coming.
This is only pure speculation, the pattern is not yet confirmed, If the price manages to close a few daily bars under 0.0723$ I will consider entering a short in the pullback to the same level using a stop loss order at 0.0838$ and with main target 0.00726$, yes , you read well, a -90% move.
I will be glad to see what do you think in the comments, if you think that I'm wrong your feedback will be much appreciated, don't forget to give a boost if you agree.