Dogecoin Prepares For Action | Promoted by Musk

One of my friends is telling me that Elon Musk is promoting Dogecoin (DOGEBTC) again and this can produce some FOMO and push prices up... But we don't trade based on fundamentals, so let's see what we can get from the charts... Let's start!

Dogecoin (DOGEBTC) has been printing higher lows and doing solid consolidation.

Prices are now challenging MA200 (28 satoshis / 0.00000028), this barrier will determine if prices for DOGE will start to fly.

If MA200 can be conquered, we can see a strong impulse move to the upside.
But if instead, DOGEBTC fail to break this barrier, we can see additional consolidation before the move up... But we remain bullish always.

The RSI is strong above 50 and the MACD starting to curve.

This is a good pair... Make sure to have a strategy/plan before you trade.

Namaste.

Comment:

Looks like the Musk Dogecoin thing is fake... Just disregard any mention of Elon Musk here... It has nothing to do with Dogecoin, we stick to the charts.