$DOGE/BTC Poloniex Technical Analysis Sept 10, 2016.
Hello Steemers!
Decided to chart the gold old Dogecoin today. Many consider this coin a total joke but the fact is it's been within the top cryptos for a very very long time and it's worth checking out.
DOGE/BTC Poloniex - 1 day chart clean
DOGE/BTC Poloniex - 1 week chart clean
Clean charts for start to get a view of the overall situation.
DOGE/BTC Poloniex - 1 day chart highs and lows marked
DOGE/BTC Poloniex - 1 week chart highs and lows marked
Marked previous highs and lows, but this time I marked the only on the weekly chart in order to try and keep the mess down.
DOGE/BTC Poloniex - 1 week white trendline
Spotted a very mild uptrend trendline, made sure i mark it right away.
DOGE/BTC Poloniex - 1 day chart highs and lows marked + fib
DOGE/BTC Poloniex - 1 week chart highs and lows marked + fib
Added the Fib to see if i can clean up the chart a bit more.
DOGE/BTC Poloniex - 1 week chart cleaned + triangle
After cleaning the chart up a bit more i noticed a possible triangle pattern and got left with the lines I think are more likely to play an role in the near future.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ :)
COMMENT
Doge has had 3 bigger waves/pumps so far which seem to be marking an accumulation zone which looks like having a resistance around ~100 satoshi.
After the early 2016 pump the price started coming back down and seems to be near the next trend change point.
The volume has been dropping since the pump happened but recently it seems some heavier buys started happening.
IMHO $DOGE has a huge upwards potential at the moment with very low downwards potential
I would expect the price to maybe go down a little bit more, possibly hitting that 32 satoshi support level and also the trend line, after which the only way I see it going is upwards towards the top border of the triangle.:
Crazy, it's so funny to think that Doge is literally a joke, but somehow it is still being traded. Interesting to see it looks poised for another jump though.
That Doge chart looks a bit like Steem's except Steem has had only one pump!
My teenage son mined Doge until he reached 100 million in his wallet then stopped. A long term speculation he calls it.
thanks for sharing this material, I like what you posted. Thank you so much
To the moon!
https://steemit.com/dogecoin/@blockchainuk/pokemon-go-for-crypto-dogecoin-go-anyone
I too think more people should take a look at Doge, it's been around the crypto block, it's fun, and there's no reason you can't trade it and speculate on the future with it. To the moon indeed....
very good analysis. keep it up. :)