Dogecoin approaching breakout of ascending triangle pattern

5 May 2017

Since late April near the time Poloniex announced the delisting of 17 altcoins, Dogecoin has seen a much larger than normal daily volume, creating an ascending triangle. This pattern should reach its breakout point in the next 24-48 hours, but it hard to tell which direction it will break. Spikes in volume have coincided with some profit taking, but Dogecoin has room to grow in value, so I am betting we will see a nice uptick in price.