Dogecoin could dump at any second
this thing can go back down to one cent in literally the next hour at any point we're extremely parabolic i'm doing with the caveat that it could dump at any second this is only if we continue to get money pouring in our next two targets for doge on the short term time frames is the 11.2 cents and 16.7 cents based on the fibonacci
You got your 1.68 1.618 up at the 11.2 cents mark and you're 2.618 up at the 16.7 cents mark we could continue higher based on the short term time frame technicals you back test your perfect resistance there and move on to the upside you've got your fibonacci extension levels what is next well if we look at the weekly chart this is our fibonacci on the weekly and this is our swing high back in january 2020 we have already surpassed all our fibonaccis and we actually didn't just surpass them we blasted through them you see our first pump went straight to the 0.5 and then we pumped straight all the way past the the 618 the 786 the one to 1.618 the 2.618 the 3.618 and the 4.236 and we are surpassed every single one of those we are in plain beyond price discovery we're way past that point no one knows where we're going next you have no indications no fib extensions no clue where this is going and this is why now this is extremely risky investment you should only invest what you can afford to lose indulge going forward just be careful if you are investing the time to invest was down for dogecoin not going tomorrow
You're not going to make money because like i said in the short term tacticals look pretty good we could be going back down to one cent at any time we got nothing on the fibonaccis switch on over to this weekly chart and this is something i want to tell you we are at extremely high level on the rsi as well you see there usually when we get this high we usually don't get this high but when we get this high this is usually a point of where we get a nice pullback on the rsi and we see a massive dump you see the last two times we've even gotten close to this level for doge the first time that we got this high on the rsi and we went down approximately 82 percent last time that happened you see the second time we even got close to this high we pulled back approximately 85 again will we get a major pay pull back just a hypothetical if we pull back 85 percent from that would bring us all the way back down to about that one cent mark which would make sense just be extremely extremely careful about buying when the rsi is this high because it's typically a reverse point but you know dogecoin is a meme now it's getting pumped by major major institutions well institutional investors like elon musk
