Dogecoin Price Technical Analysis for 24/2/2015 - Bears Strangled
Dogecoin price yesterday traded between 58 and 60 satoshis on Hitbtc, yet earlier today the price dropped down to 51.6 satoshis before rising up again to 60 satoshis at the time of writing of this article. On the other hand, Dogecoin price traded between 58 and 60 satoshis on Cryptsy throughout yesterday's trading sessions. By studying the 1 day Hitbtc (DOGE/BTC) chart from tradingview.com, calculating the 20 day EMA, plotting the MACD indicator and executing the RSI (look at the below chart), we can notice the following: Even though the price dropped down to around 51 satoshis earlier....
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There is a popular saying in the stock market: “Sell in May and Go away.” It's not May yet, but I think its best to sell Dogecoin now and go away for some time. The bulls are getting mauled up by the bears amid high volatility, and this has increased the probability that the cryptocurrency may see lower levels going ahead. Dogecoin remains unchanged on a daily basis, trading at 48 satoshis. A technical look at the 240-minute Dogecoin/Bitcoin price chart confirms the bearish undertone. Dogecoin Chart Structure - In my previous analysis, I had advised that Dogecoin is a seller's play and any....
Dogecoin has undergone a massive correction of roughly 10% in the past 24 hours, with the price nose-diving from 49.8 satoshis to 45.1 satoshis. As a result of this fall, Dogecoin has neared the floor of 43 satoshis, which if cracked, could lead to a severe collapse in the price. But, will it? Let us find out with the help of technical analysis below. Technical analysis implemented on the 240-minute Dogecoin/Bitcoin price chart reveals that bears are pouncing on every opportunity to jettison Dogecoin en masse. The support of 43 satoshis may well give way to a lower ground, if bulls....
Dogecoin Price Key Highlights. Dogecoin price did indicate further downside momentum, as predicted in an earlier technical analysis write-up on the consolidation pattern repeating itself. With the downside break, more sellers could hop in the ongoing downtrend and push dogecoin price to new lows. Dogecoin price confirmed the buildup in bearish pressure with a strong downside break below the consolidation pattern on its 1-hour chart. Where To Next? Price has broken below the previous lows in October 21, hinting that bears are unstoppable at this point. Stochastic and RSI are both on the....
Dogecoin received a major setback over the weekend as the cryptocurrency failed twice in its attempts to scale Mt. 51 Satoshis. Any surge towards the peak was quickly pulled down by the bears beating the bulls hollow. The current value of each Dogecoin is 48 satoshis. I had mentioned in my earlier analysis that the onus lies on bulls to maintain the positive momentum but, as can be seen, the bears had the last laugh. After technically analyzing the 240-minute Dogecoin/Bitcoin price chart, it can be advised that only short positions should be considered on rallies. Chart Structure - In....
Dogecoin hasn't been able to recover from the negative price shock it received yesterday - the cryptocurrency came down with a thud from 50 satoshis to 46.3 satoshis - and is currently trading near 1-week lows. I had earlier mentioned that maybe it's best to sell now and go away until depressed levels of Dogecoin are seen. I still maintain that the crypto coin might depreciate in value going forward. Currently, Dogecoin is trading down 1.875% or 0.9 satoshis at 47.1 satoshis from yesterday's observation. An analysis of the 240-minute Dogecoin/Bitcoin price chart above reveals information....