DOGE/USDT Massive Parabolic Break-Out
Today, DOGE has finally broken through the upward channel that it has been following for a few weeks. Not only did it break through, but it did so with a very strong few candles, accompanied with high volume.
In the snapshot below you can see that the upper trend line was decimated, signaling a strong bullish move in the coming days.
I expect Dogecoin to behave like it did in the past: strong bullish daily candle to start the parabolic movement, followed by even greater bullish daily candles. A move like this can keep going anywhere between two to five days. Consider taking some profits at either Resistance 1 or Resistance 2, since selling pressure is prone to be strong there. Tread very cautious when the price reaches above Resistance 2, it might reverse very strongly within the blink of an eye.
In the snapshot below you can see that the upper trend line was decimated, signaling a strong bullish move in the coming days.
I expect Dogecoin to behave like it did in the past: strong bullish daily candle to start the parabolic movement, followed by even greater bullish daily candles. A move like this can keep going anywhere between two to five days. Consider taking some profits at either Resistance 1 or Resistance 2, since selling pressure is prone to be strong there. Tread very cautious when the price reaches above Resistance 2, it might reverse very strongly within the blink of an eye.
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