DogeCoin Sell-Off Playing Out! Watch This Bearish Pattern

4:16 pm, Fri, 2 July 21

Current DogeCoin Data

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DogeCoin bearish prediction on the 4-hour timeframe from a previous analysis DogeCoin Is Getting Shattered! Sell Now?

Our bearish bias on DogeCoin is playing out exactly as predicted DogeCoin Is Getting Shattered! Sell Now?, and right now we are seeing the Altcoin form a converging triangle pattern on the 1-hour timeframe. This converging triangle pattern provides us with added precision for our entries, stop losses and take profits.

In this DogeCoin technical analysis, we will be talking about all these key levels of the converging triangle pattern forming right now on DogeCoin.

DogeCoin Sell-Off Playing Out
DogeCoin Sell-Off Playing Out! Watch This Converging Triangle pattern forming on the 1-hour time frame.

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Added Bearish Confirmation!

DogeCoin Sell-Off Playing Out! Watch This Converging Triangle
DogeCoin Sell-Off Playing Out! Key levels to watch for on the 1-hour timeframe

The converging triangle pattern on the 1-hour timeframe is an added bearish confirmation for DogeCoin. If this pattern plays out, we can expect to see a massive breakout either to the upside or downside soon.

But since we are currently in a bearish trend, we will be looking to the downside.

DogeCoin Sell-Off Playing Out! Watch This Converging Triangle
DogeCoin Sell-Off Playing Out! Key levels to watch for on the 1-hour timeframe

The key level to watch is the $0.2380 support. A break below this price level signals the end of the ranging market and the potential for us to see a large drop in the DogeCoin price.

Bearish Targets.

DogeCoin Sell-Off Playing Out! Bearish targets for the coming breakout to the downside on the 1-hour timeframe

Our bearish target for this converging triangle breakout is the $0.1839 region. This is a 25% loss in the Altcoin value, further confirming our bearish bias on DogeCoin

DogeCoin Broke through a key level on the 4-hour timeframe. Is it time to sell?

Final Verdict!

DogeCoin is still very bearish and we are only looking for selling opportunities on the Altcoin. The key level to watch is the $0.2380 horizontal support, a price break below this support signals the beginning of the DogeCoin sell-off!

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More Trading Ideas

For more trading ideas, check out our technical analysis on Youtube. We talk about the key levels you should be watching right now, as well as what you might expect the Bitcoin price to do in the coming days.

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