Below are the upside resistance targets based on the work of Edson Gould.
The targets, based on the $0.18 low, are:
Each of the upside resistance targets are levels to expect that the price will either trade in a range or revert to a continuation of the declining trend.
Posted in DogeCoin, Edson Gould, Speed Resistance Lines, SRL
Review
On February 5, 2018, we outlined the similarity in the level of increases between Bitcoin and Ethereum. At that time, we said the following:
“The periods in question happens to have the same percentage change, approximately +13,400%.”
We then surmised that if Ethereum could increase the same as Bitcoin then it wouldn’t be far fetched to consider the prospect of Ethereum declining to the same level of -93%, after such an increase. We said the following:
“As with the same percentage increase, it is reasonable to expect the same percentage decreased that followed. For the price of Bitcoin, it plunged –93.07% from June 8, 2011 to November 18, 2011.”
By January 10, 2019, we published an article titled “Ethereum: Stunning -93% Decline”. In that piece, we said:
“The difference between the high of $1,385.02 and $84.06 is equal to –93.93%. This decline was similar to the decline experienced by Bitcoin in 2011.”
DogeCoin Downside Targets
Below are the downside targets based on the work of Edson Gould.
The targets, based on the $0.41 peak, are:
The -93% downside target for DogeCoin from the $0.41 level is $0.03. We have intentionally excluded the potential upside target of $1.41. Our emphasis is exclusively the downside risk.
Posted in DogeCoin, downside, Edson Gould, Speed Resistance Lines, SRL