DOGE has historically gone through cycles of violent and rapid spikes to the upside before hitting a wall and falling directly back.
On the weekly DOGE/BTC chart below, heavy resistance can be seen at the 0.000001 BTC level. On five instances in DOGE’s history, DOGE/BTC briefly pierced or closed at least one weekly candle above this line. Considering the oversold RSI indicator and DOGE’s position on the chart, it seems as though another run to 0.000001 BTC is in the cards for Dogecoin.
If the pattern continues, expect to see another DOGE sell-off, beginning between the 0.0000008 BTC and 0.0000011 BTC range.
Do you think Dogecoin will make new all-time highs in 2019? Will DOGE still be relevant in the cryptocurrency space in the coming years?
On the weekly DOGE/BTC chart below, heavy resistance can be seen at the 0.000001 BTC level. On five instances in DOGE’s history, DOGE/BTC briefly pierced or closed at least one weekly candle above this line. Considering the oversold RSI indicator and DOGE’s position on the chart, it seems as though another run to 0.000001 BTC is in the cards for Dogecoin.
If the pattern continues, expect to see another DOGE sell-off, beginning between the 0.0000008 BTC and 0.0000011 BTC range.
Do you think Dogecoin will make new all-time highs in 2019? Will DOGE still be relevant in the cryptocurrency space in the coming years?
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