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DC Report: Break Out Bull Rally... Sustainable or Too Much Too Fast?

DOGECOIN


March 4th, 2024

Yearly Chart - 2024 at 0.1768 is above the 2021 Close of 0.1705.

◘ The current 2023 market high of 0.1858 is approximately 278% above the low 2022 of 0.0491. ◘ 2023 is currently up 97% above the open of the year ◘ The market is currently -76.75% down from the DOGE all time high (ATH) of 0.7605


Monthly Chart - Strong 2 bar Bull rally for February and March 2023 just below the 50% line

◘ 0.1936 is the 50% line between the April 2021 close and the low of 2022 at 0.0491 ◘ The January 2022 High is just above the 50% line ◘ 20ema is below at 0.0973

◘ The market was sideways to down in a wedge for about 24 months (bars) ◘ Bulls formed a 3 bar rally from under the 20ema as a leg 1 ◘ Bears did not continue the sell off after the profit taking in January 2024 ◘ Bulls formed a strong break out above the above the leg 1 high Dec 2023

◘ Early March 2024 forms extreme Bull break out with over +50% gains from Feb 2024

Weekly Chart - Extreme Bull break out above trading range and prior highs of 2023


◘ The majority of the bars are low volume trading range

◘ Approximately 3 - 4 out of 100 bars (3 - 4%) on this chart are Bull breakouts

◘ The other 96 to 97 bars (96 - 97%) are in a trending trading range

◘ The Jan 2022 High is just above the market at 0.215

◘ The 20ema is at 0.0967

◘ Previous extreme Bull break outs are often followed with extreme profit taking into a trading range

◘ How far will the Bull break out go? Nobody knows...


Daily Chart - 8 Extreme Bull break out bars in a row

◘ There have not been Bull bars this size for 492 bars since Oct 29th 2022

◘ 8 extreme bull break out bars divided by 492 trading range bars is 0.016 or 1.6%

◘ 1.6% of the time the market may for a low probability extreme break out event

◘ DOGE has been in a trending trading range for 98.37% of the time.

◘ The 20ema is 0.1128


!!! THIS IS THE DAILY CHART FOR BULL BREAK OUT BACK IN OCT 2022 !!!

◘ Doge formed an extreme break out from a low of 0.0591 to a high of 0.1589 over 8 days ◘ Formed a head and shoulders double top into an extreme pullback reversing to the 20ema ◘ This was just as the Bears finished the sell off into a 130 bar trading range


What are your thoughts? _________________________________________________________________________ by Digital Currency World News, dcworldnews.com _________________________________________________________________________ #doge#dogecoin#crypto#priceaction#digital#currency#world#news#btc#eth#mana#ada#xrp *This is not Trading Nor Financial Advice.

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