When Doge Peaks; It crashes: And takes the Crypto market with it
Back in 2019 I posted a chart on the Doge/BTC pair pointing out that the Doge to BTC ratio was a lifetime historical support and that it would likely pump to atleast the top of the range so long as our support wasn't broken and so long as we could break a midterm downtrend pivoting from support :
Today i must say i'm quite happy with the result but now it's looking like the party is over and one thing i have realized overtime is that when Doge pumps to the top of the range it typically just goes right back down to the bottom and has often been an early indicator of an overall shift in the crypto market cycle.
We may see crypto enter a Mid to long term bear market very soon.
However, if in this bear market Doge can pivot and make a higher low this time around perhaps at the newly created 200 week Moving average then we may see Doge pump back to the top of the range and actually break above the resistance convincingly next time around.
Today i must say i'm quite happy with the result but now it's looking like the party is over and one thing i have realized overtime is that when Doge pumps to the top of the range it typically just goes right back down to the bottom and has often been an early indicator of an overall shift in the crypto market cycle.
We may see crypto enter a Mid to long term bear market very soon.
However, if in this bear market Doge can pivot and make a higher low this time around perhaps at the newly created 200 week Moving average then we may see Doge pump back to the top of the range and actually break above the resistance convincingly next time around.
