Dogecoin Ready To Jump Or Lower?

16 cze 2020

Dogecoin (DOGEBTC) just touched the 25 satoshis (0.00000025) support once more.

This support level, marked on this chart with light yellow, has been holding strong since at least late September 2019.

Now, we see this level being activated again today... What do you think will happen next?

Will Dogecoin drop or will it reverse?

We have this really strong support being challenged once more and as this happens, DOGEBTC continues to print lower highs...

Thinking of this, with a bearish RSI and MACD, we are likely to see another drop before Dogecoin's price starts to increase.


Two main scenarios

1) The blue arrow represents what we've been seeing over and over on this chart. The support level activated followed by a test of EMA300.

2) We can have the early September lower support activated before the next jump.

If prices close the day above EMA10, we are looking to go straight up. But closing below can highly increase the chances of lower prices before the jump.


My personal prediction/opinion

Dogecoin (DOGEBTC) will start to move strongly within the next 10 days regardless if we activate the 'strong' or 'lower' support.

That's why we like to keep it simple... And we just buy and hold.

Namaste.