What's good traders/tradingview fam 🙌🏾 hope all is well, here are my thoughts on DOGECOIN
I believe strongly that DOGECOIN will continue to crash going into 2023 because of these 3 reasons which are aligned with my trading strategy 1. I found a profitable Bearish Candle that has 4 specific principles (1. The (RED MA) is above this Bearish Candle and (BLUE EMA), 2. This Bearish Candle has a flat top, 3. This Bearish Candle is below the Ichimoku cloud, 4. The previous wick of this Bearish Candle is greater than 217 ticks
2. This profitable Bearish Candle has 2 advantages over the last Bearish Candle that was successful - The (RSI INDICATOR) on this Bearish Candle is lower than the last bearish RSI (4), by 1 (THE LOWER THE RSI IS - THE MORE EFFECTIVE AND PROFITABLE THE BEARISH CANDLE BECOMES) - The previous wick of this bearish candle is greater than the last bearish previous wick (217), by 17 (THE GREATER THE PREVIOUS WICK - THE MORE EFFECTIVE AND PROFITABLE THE BEARISH CANDLE BECOMES)
3. This RESISTANCE LEVEL #3 as you can see on the chart has the power to push the price down 40% in the next 10-15 days because it has more bullish candle wicks touching it than the previous RESISTANCE LEVEL #2 which was able to push the price down 29.50% in 10 days (DECEMBER 9 - DECEMBER 19) - understanding that for a resistance level on this pair to be effective and influential = 39 bullish candle wicks must be touching that level of resistance. THIS NEW RESISTANCE LEVEL #3 HAS 93 BULLISH CANDLE WICKS TOUCHING IT MAKING IT EVEN MORE EFFECTIVE AND INFLUENTIAL THAN IT PREVIOUSLY WAS