I am looking at Dogecoin (DOGEBTC) and this altcoin is now ready to challenge January 2018 peak.
As you might know, the cryptocurrency market went on a bull in last year which climaxed on late December 2017 / January 2018.
Most of the altcoins had a huge run, reaching new levels and setting new all time highs.
DOGEBTC, which came about as a purposeless coin, is now ready to challenge the peak it set on Jan. Not a new high for this coin but still a strong peak.
After DOGE increased its 580% on its last bull run, it went down for around 9 months or 240+ days.
If DOGEBTC actions is indicative of the overall market behaviour, then we will be seeing green all across the board pretty soon.
Note: This is no trade advice.
Thanks for reading.
Your support is highly appreciated.
Namaste.
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Always make sure to secure profits when you see such gains with any coins.
It is better to be safe than sorry.
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Support and resistance levels for DOGEBTC:
Here are the support and resistance levels for DogecoinBTC by request.
NOTE: THIS IS ON TRADE ADVICE.
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Do I believe DOGE can go higher than January's peak?
The answer for this question is YES; let me explain why...
Take a look at the volume on the following chart:
- Notice the small volume we have now, very small compared to January. - If the cryptocurrency market goes on a bull run, then Dogecoin has the potential to go much higher. - If the market remains bearish, then the chances are much, much lower of reaching new highs, yet, still possible.
Hope that answers your questions.
Namaste.
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For now, if you bought early, it would be wise to SELL and secure some profits.
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When we reach this point in the "game", we normally retrace, but Dogecoin has been holding good.
I marked some important support on this chart: image.ibb.co/kkEVZp/doge.png (TV screenshots are not working so I uploaded the image manually).
- I checked and we are within the bollinger bands in several time frames. - Seems to be consolidating nicely. - Might remain strong and then a strong move... either way right now. - Doji on the 12h. - 82 sats is the next strong support. - 130 sats the next strong resistance.
Just sharing for your information...
Hope it helps.
Namaste.
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DOGEBTC continues holding really strong. Needs more volume, yet it continues holding nicely.
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Looks like nobody is selling:
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Next support for DOGEBTC is sitting at 82 satoshis. If this one doesn't hold, look for 74 satoshis next.
Great post thank you!
I’ve been reading everywhere it’s the year of DOGE!
I hope so! I’m Long 2M DOGE-BTC
cryptodoob
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@ericgilberti, be sure to place your stop losses to be safe , been there down that , i'm out already, i don't think this is the good entry point, if you bought early consider selling at least your capital, or put stop loss on your capital.