🔥 DOGE Massive Triangle: Break Out Soon
Like all cryptos, DOGE has seen a strong bearish move over the last two weeks, losing more than 70% of it's ATH value at some point.
Apart from the downward channel that DOGE is trading in, DOGE has also formed a massive symmetrical triangle when the two local lows of the last week are connected.
Seeing that BTC is still trading in a clear down trend, the chance of DOGE breaking out on the lower end of the triangle is relatively big. On the other hand, if BTC decides to tackle the 42k resistance in the near future, DOGE might follow suit and break out through the top trend line of the triangle.
Before trading either break-out, please wait for confirmation of the trend.
Happy trading!
Apart from the downward channel that DOGE is trading in, DOGE has also formed a massive symmetrical triangle when the two local lows of the last week are connected.
Seeing that BTC is still trading in a clear down trend, the chance of DOGE breaking out on the lower end of the triangle is relatively big. On the other hand, if BTC decides to tackle the 42k resistance in the near future, DOGE might follow suit and break out through the top trend line of the triangle.
Before trading either break-out, please wait for confirmation of the trend.
Happy trading!
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