Bitcoin
$22,885.69
-207.62
(-0.9%)
Ethereum
$1,648.09
-8.13
(-0.49%)
Ripple
$0.40
-0
(-0.55%)
Litecoin
$99.30
-0.83
(-0.83%)
EOS
$1.09
-0.02
(-1.63%)
Cardano
$0.39
0
(+0.28%)
Stellar
$0.09
0
(+0.26%)
NEO
$8.79
-0.15
(-1.67%)
NEM
$0.04
-0
(-2.91%)
DigitalCash
$64.40
-0.91
(-1.39%)
Tether
$1.00
0
(0%)
Binance Coin
$326.59
-4.01
(-1.21%)
QTUM
$2.92
+0.02
(+0.72%)
Verge
$0.00
0
(+1.56%)
Ontology
$0.23
-0
(-0.99%)
ZCash
$45.36
-0.98
(-2.11%)
Steem
$0.22
-0
(-2.06%)

Dogecoin price at risk of flash crash towards $0.10

0


  • Dogecoin price recently dropped below a triple-bottom pattern on its Point & Figure chart.
  • The last uptrend angle warns of a steep and rapid move south if buyers don’t come in.
  • Current weakness exacerbated by trading below the 2021 Volume Point Of Control

Dogecoin price shows signs of disappointing bulls who were anticipating an imminent breakout towards $0.50. Instead, sellers were able to take control and push Dogecoin below a triple-bottom, threatening a return to price levels last traded in April 2021.

Dogecoin price finds sellers in temporary control, massive sell-off ahead if buyers fail to support Dogecoin

Dogecoin price has a genuine threat of an imminent flash crash. The bear flag pattern on the $0.01/3-box reversal Point and Figure chart shows just how close Dogecoin is to entering into a capitulation move. A Fibonacci expansion drawn from $0.34 to $0.19 shows the 161.8 % Fibonacci expansion level is at $0.10. Sellers may look to capitalize on any weakness that sees Dogecoin drop below $0.19 to target $0.10. However, if the current column of Os were to retrace all the way to $0.19, and dip lower to $0.17, then a Spike Pattern will develop, giving bulls an opportunity for a fast mean reversion trade setup.

On the long side of the market, there is a hypothetical bullish trade opportunity for Dogecoin price. The entry would be a buy stop order at $0.34, a stop loss at $0.30 and a profit target at $0.50. The entry is based on the break of a triple-top that would develop if a new X-column was pushed to the most recent swing highs. However, if some range trading goes on in the interim and a split triple-top develops, the entry remains valid.

DOGE/USDT Daily Ichimoku Chart

The hypothetical long trade setup will be invalidated if Dogecoin price drops below the $0.18 value area.

 



Read More: Dogecoin price at risk of flash crash towards $0.10

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Notice: Undefined variable: ub in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 650

Notice: Undefined variable: ub in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 659

Deprecated: strripos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 659

Notice: Undefined variable: ub in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 674

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.