Alt coins are an area of the market I am approaching very delicately. Right now, however, I cannot help but pay attention to the things happening currently on Dogecoin. Although currently getting rejected at a major supply line, selling pressure on the 3 day chart since December has exhausted and has now flipped positive with strong bullish momentum being the result in the price action thus far. Its my belief that this may only be the beginning as not only do we have classic bullish divergence showing on the MACD, but a potential golden cross between the 21 and 50 EMA happening just days away from now.
Of course it could be premature to make this call just yet, but with the massive bullish momentum on the MACD combined with the fact that money flow is rising on most of the higher time frames give me the confidence that this cross will indeed occur sooner rather than later. The last time DOGE's 21 and 50 EMA bullishly crossed was around October 25th last year.... this resulted in a 161% move to the upside in just a little over 7 days.
Of course it could be premature to make this call just yet, but with the massive bullish momentum on the MACD combined with the fact that money flow is rising on most of the higher time frames give me the confidence that this cross will indeed occur sooner rather than later. The last time DOGE's 21 and 50 EMA bullishly crossed was around October 25th last year.... this resulted in a 161% move to the upside in just a little over 7 days.
