✴️ Dogecoin Correction Signal Revealed | Explained In Minutes

Apr 12

How do we know if this is a short-term drop (a retrace) or a long-term drop (a correction)?

➖ One way is to take into consideration the duration of the bullish phase and compare it to past history.

➖ Another way is to look at the proportion of the waves; a parabolic rise will always lead to a strong correction.

➖ An easier way is by looking at the trading volume. Whenever huge volume comes in, we need to pay attention. Dogecoin (DOGEUSDT) produced the highest daily volume session 5-March 2024 since May 2021.

May 2021 is when the orthodox end of the Cryptocurrency bull-market took place, meaning, the start of the bear market. Being more specific to Dogecoin, May 2021 is when the ATH hit.

👉 DOGEUSDT produced the highest bearish volume and now we have very strong bearish action. This tells us that a long-term drop (a correction) is on the way.

Long-term compared to a retrace, not the 'long-term' we use when speaking of market projections.

Prepare for the drop.
Stay safe!

It will get really ugly but it will recover really strong once the correction is gone; months after the halving. (Each trading pair should be considered individually.)

Thank you for reading.

Namaste.

Apr 17

Note

There is still plenty of room for the correction to develop.
Once the correction low is in we are likely to get an accumulation phase (sideways-range) which can last for months. This part can vary though so we are in a wait and see period.

What is 100% certain is that, "down we go!"
After we go down, we resume growing long-term-up.

May 1

Trade closed: target reached

Currently, Dogecoin shows room open for additional drop, lower.
This pair is likely to start the recovery earlier than some of the other major Altcoins. It is a process. It can last weeks just as it can last months; the entire correction plus recovery.

I will share new trade ideas when the signals show up for a reversal to take place.
Next time I am back with these we are going to be crying LONG.

First we go down, then we go up!

Namaste.

Jun 20

Note

Dogecoin is now sitting at support but doesn't really look bullish... The chart structure; multiple rounded top, points to the possibility for another low before any major bullish market develops for this pair.

Jul 4

Note

Those looking for updates on Doge... Look at this chart.
Much lower is still possible as part of the final/major Cryptocurrency market flush.

Aug 6

Trade closed: target reached

All targets hit.