Browse Stacks: Patterns: Fibonacci: slopechart_$DOGE.jpg


I just scanned through every crypto available here on Slope. Bitcoin can't even get back above the 200-day for the moment. Meanwhile, Dogecoin proudly reclaims the 50 day like a freakin' champ. To be fair there were 3-4 others that managed to pull off a similar stunt, for now anyway. 

I dunno kiddies, I think the party is over, wait for 2023. I understand crypto is prone to vicious turns but looking back at prior runs this little event takes the cake for a sell-off if it somehow manages to recover. 25%, 30%, 35%, maybe even 40% I can buy into the idea that it's just blips blippin'. 

The damage across cryptolandia is in excess of 50% peak to nearest low for many of them. 

The good news is during this bull run I actually did my DD on many of these names, and a half-dozen of them sold me on their purpose, but I spent the last 3 months thinking "Holy hell that chart looks scary as hell, no way I am stepping in now." 

I'll keep an open mind of course, but the onus is on price to prove itself.

Image added via SlopeCharts


Standard chart reading works wonders. HWB is a completely normal behavior. 5/19/21