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I decided to try a 4hr chart for clarity to draw the descending...

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DmitriMA

3,410 Posts.

221

20/06/21

19:32

Post #: 53953280
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Originally posted by DmitriMA: ↑

Dodgeycoin descending triangle setups...

(a) The more conservative play is the lower longer triangle with a high ~ 48c.
(b) But if it breaks down now, you might want to have a look at the higher top ~ 56c.

Base is ~ 30c
So:
(a) 48 - 30 = 18
......30 - 18 = 12

(b) 56 - 30 = 26
......30 - 26 = 4

Interestingly, Doge was trading consistently around 5c since Feb 2021, until the run-up starting in April.

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I decided to try a 4hr chart for clarity to draw the descending triangle with more precision,
and I'm pretty happy with the result...

Breakdown target is 16.5c.
200 MA is 15c, so that looks pretty right

And you can see the breakdown has already begun...
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0 Great analysis

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