Looking at the weekly chart for doge and found some interesting patterns. Make what you will of it but my bet is that it plays out in a similar fashion than before. Would love to hear everyones opinion.
So go down? That doesnt make sense then. The coin is stable at the moment. Reached 2 bil market cap a week ago and If that is an indication of a future events, whether it may be a pump&dump or an actual interest in the coin, that we cannot predict. Time will tell.
@mattsie, I never said it was going to go down. I think you completely misunderstand this idea. First of all this is a weekly chart so there's obviously plenty of movement during that time that still needs to occur. Second, Most of the previous movements had topping trails or as most people call them blow off tops. This has not happened in the current cycle. The bull trend is likely to continue and has shown no reason of stopping even on lower timeframes. What I am saying with this chart is that most of the doge previous pumps have moved in similar patterns. Even if the pump is larger in scale the movements all look the same. Look at the 2 previous highlighted tops in the charts. Once doge starts looking similar such as showing signs or a blowoff similar to past trends, it would then be wise to take profits. This chart was meant to show that what occurred in the past is likely to happen now so follow the patterns wisely so you will have a better timed exit. In trading, the past is important because it tends to repeat itself even if it is on a lower or higher scale.
@ibitcointrade, Yes, that I do agree. I guess I thought you were showing that the reversal of the trend is going to happen. I personally do think previous trades do not necessary show forward movement also. It is a very dangerous way to guess from the past since we know that the fall of doge, was mostly related to the growth of BTC.