DOGEBTC trade ideas
DOGEBTC on Poloniex: Jun 19: Wedge?As TradingView does not follow Cryptopia, or even Coinexchange.io in creating DOGE/BTC trading pair charts, I've decided to use the pair offered by Poloniex through this exchange. Please note that this may vary how accurate my TA is with your Dogecoin trading.
This is the Dogecoin/Bitcoin, 1 Day, Poloniex chart available here on Tradingview. The most local high on this chart of the year occurred on Jan 7, around the cyclic dump of Bitcoin after Christmas of the previous year. Dogecoin attained a value of 114 sats on this day before descending from there towards a line of minor support at 52 sats on Feb 2 from which it rebounded before falling through to a major support line at 37 sats on Mar 1.
From there the doge steadily rose to a new maximum of 72 sats on Apr 19, failing to reach the maximum of 79 satoshis on Feb 15 prior. It currently sits on a price of 0.00000044 BTC, straddling a line of minor support on 43 sats. According to my belief this downward trend will continue until the value of one Doge once again returns to the major line of support at 37 sats within say the next 10-15 days.
If one looks at the chart from Feb 15 to Apr 19 one can see that the chart displays a downward wedge, using the major support at 37 satoshis as the support line of the wedge. As with this bullish wedge one can expect the price of a single Doge boi to reach a target range equivalent to the base range of the wedge, or 79 sats sometime within the next 60 days. This is further supported by
My advice is to leave a buy order at 0.00000038 BTC to be on the safe side and then wait for the next two to three weeks to pass. Once your order is filled, place a stop loss order at 35 satoshis while you wait for the price to reach 79 satoshis in the coming days. This will yield you a 3 satoshi risk for a 40-42 satoshi gain in the following 60 days; in other words, a rare 1:16 risk reward ratio or a 112.20% increase in 60 days. Not to shabby at all.
If the price falls through 37 satoshis, and fails to return to it within 5-6 days you'll be stopped out, and with your remaining BTC you can wait for Doge to reach a value of 15 satoshis at the interyear major line of support that Doge has yet to ever sink past, and wait for a bullish breakout there and recoup losses there.
As always I will try to update this chart as seen. Once again, please remember this applies to trading the DOGE/BTC pair on Poloniex and may differ on other exchanges. Thank you for reading.
-LC2020
Dogecoin (DOGE/BTC) near a breakout The price of Dogecoin has been inside a triangle since June last year, and it now looks ready for a breakout. I have labeled three fractals, and as you can see the price is currently in the finishing stages of the last one. If we look for clues in the fractals we can conclude that the price is likely heading upwards. If that happens I would expect the price to hit 0.382 Fibo level which would be the first target. However, due to low liquidity and the huge spread, this coin can easily pump much higher.
DOGEBTC | Dogecoin - 05.06.2018The market appears to respect the 23.6% Fibonacci level. Technical analysis reveal that DOGE/BTC has rallied to as high as 0.00000072 on April 19. The price movement appears to be the A-wave of an ABC corrective pattern. As 0.0000007 is a firm resistance as well as the 61.8% Fibonacci level, the pair pulled back to 0.00000049 on May 11. At this point, however, it looks like the market is respecting support of 0.0000005 while carving a bullish higher low setup.
The strategy is to buy as close to 0.0000005 as possible. If bulls hold on to this level, they will attract more bottom fishers. This may ignite a C-wave rally that can take us to our target of 0.0000007.
The process may take less than a month.
This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative information .
DOGEBTC | Dogecoin - 05.06.2018The market appears to respect the 23.6% Fibonacci level. Technical analysis reveal that DOGE/BTC has rallied to as high as 0.00000072 on April 19. The price movement appears to be the A-wave of an ABC corrective pattern. As 0.0000007 is a firm resistance as well as the 61.8% Fibonacci level, the pair pulled back to 0.00000049 on May 11. At this point, however, it looks like the market is respecting support of 0.0000005 while carving a bullish higher low setup.
The strategy is to buy as close to 0.0000005 as possible. If bulls hold on to this level, they will attract more bottom fishers. This may ignite a C-wave rally that can take us to our target of 0.0000007.
The process may take less than a month.
This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative information .
$DOGECOIN Fractal'sFractals Fractals Fractals... I feel blessed for the opportunity to trade these beautiful formation.
What is a fractal you ask? Well, a fractal is a recurring pattern that exponentially increases/decreases in size and structure. The more geometric the fractal, the higher the probability is of the pattern continuing either bullish or bearish. Ask yourself, "Which side of the trend am I on?."
Now that we know what a fractal is, can we see any repetition of structure inside Dogecoin?
Taking a look at the 12hr chart, I have marked down three fractal patterns in which i feel have very strong bullish implications.
Remember that fractals can vary in geometric size and proportion, so the next thing to watch for is repetition. Can we see any similar patterns playing out repeatably? If so we may be inclined to believing a fractal is in its progression.
Now, enough talking... How about we analyze this chart!
Fractal 1 gives us a very large bull run followed by an ABC falling wedge retracement back to the trend line.
Break outs from falling wedges are a very profitable trade set up that we often see inside crypto. Large rallies often produce these falling wedge patterns due to the fact crypto is very explosive and 70-95% retraces happen quite often. Dogecoin happens to repeat this falling wedge fractal often and if we look through the history of Doge's Market Cycles, we can see this very clearly.
Once prices fell back onto the trend line, buyers moved back into the market. This caused a breakout of the falling wedge, and a nice bull rally immediately pursued afterwards.
Now, this is where we see the first signs of a repetitive fractal pattern forming. If we look closely at the second fractal we can see prices retrace in the same ABC Falling Wedge as the first market cycle, The only difference is the size of the market cycle compared to the first. The size is smaller because this is only the first bullish move inside an even bigger market cycle forming.
Lastly, we take a look at fractal three. It may be beneficial to zoom closer and get a better view of what is going on.
Like the first two fractals, once price lands on support of the trend line we see a major bull break followed by the ABC Falling Wedge retrace.
Now are you beginning to see the repetitive market structure inside of Doge?
We are nearing an end to the ABC retrace of fractal three and a breakout of major descending resistance marked by the Grey line.
A breakout of the Grey line would ensure a major bull run will follow along with a bigger more explosive market cycle similar to the one we experienced last summer.
Get your backs packed, were nearing alt season once more!
Thank you for tuning into todays fractal lesson!
I hoped i was able to teach you something and show you one of my favorite patterns to trade.
Please message me or comment any questions you may have below :)
God Bless, JolleyCrypto
Alt bull run timing. ETA: 18 days - 60 days til beginningAlt season will likely start at 1 of the 2 vertical lines, if it starts at the first one, it'll end by the second, and if it starts at the 2nd, it'll end by the last vertical line. Should be 2014 style legendary this time around imo.
Drop to less than 40Daily MACD failed to cross and RSI on making lower highs. I expect a drop to, at least 40 in the next 2 weeks. Wait MACD to cross o RSI to make higher minimuns to buy.
DOGE unleashed from da' f*ckin' triangle!DOGE seems not to be tangible on any of the typical chart analysis tools - triangles, channels, horizontal supports & resistances and all you learn in your dirty hell boring old text book! It is however reactive AF !
You also can not put DOGE on the short term - Highly swinging, no supports other than the zero - That f*ck of a f*ckin' indian jungle fly stinging your ass where it can in da'f*ckin' rollercoaster mode ! WARRRRRRR!
Finding now through above shown jungle of an untypical liana chart view, I lead by some major demarcations:
1st BOTTOM : We look to some bottoming reaction trends (black lines, green+red arrows)...
2nd TOP : We look to logarithmic extrapolated highs catching trends (green and red curve)...
3rd RIGHT : We try a fundamental outlook (blue)...
BOTTOM :
After each top (green & red 'X's), we saw lower reaction highs (red down-arrows), setting up an each clearly defined downtrend (black lines).
After then each following NEW TOP (blue breakout up-arrows), these black trends defnined the bottom of the next subsequent downtrend (green up-arrows).
TOP :
You can try to scale DOGE between logarithmic and linear, back and forth, you'll see nothing but a joke in your face.
So we build our own logarithmic fly swatter !
For that we need at least 4 tip points on which we can line an arc on (try to do with only 3 - you will fail on drastically different outcomes on the long term end of an arc by moving your f*ckin' hell of a mouse or finger just a bit on that arc-handle).
So what I've done? I've put the first real reaction high (golden 'R') as the start reference price finding high (all before in golden area is defined as initial sell-off price finding range). And from here we concatenate:
- Higher Highs (green arc)
- Reactive Lower Highs (red arc)
RIGHT :
From that we dare an outlook.
You call it paranoid? I call it fundamental analysis.
Considering (I'm not joking! - that's fundamental analysis my friend) a come-back of surpressed Chinese crypto strength, combined with the real Chinese Year Of The Dog from Feb-16-2018 to Feb-04-2019 hyping the shit of a speculation, we can mark a first reaction Higher High in a typical strong autumn month like September, followed by a second full reaction Higher High in February 2018 right by the end of the Year Of The Dog. Subsequently, to fill the fractal, we will see a new Lower Reaction High on the red arc again.
A detail in the next upcoming reaction could be what is marked in golden up-arrow possibility, in a way of another test to the latest downtrend. This gets significance as it would range into the area of strong and cheap rebuy of big players at ~<20 satoshis, before spring to green arc's target marked golden cross.
DOGE / BTC Simple ChartSimple chart outlining some basic areas of support and resistance POLONIEX:DOGEBTC
Doge back to 25 Aug/SepChart speaks for itself. Don't feed the bag holders trying to scare you with bs fomo
The biggest ALT season yet...DOGE BTC
The ultimate indicator for ALT season, triggering soon at an exchange near you!
