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Dogecoin (DOGE) August 2023 (Public Version)

Updated: Jul 31, 2023



  • Month’s Theme: Establishing a higher support and having sideways rotation along that support level.


  • Behavior Around the High: A decline down to and through support and then we’ll rotate along that support.


  • Behavior Around the Low: A decline to and through support on a one-month scale.



Overview


On the 1st, we’ll have a period of volatility and a lot of price change to the upside. On the cusp of the 1st and the 2nd, there’s a sharp decline followed by a notable move higher reaching for distant resistance. On the 3rd, we’ll attempt to establish support. On the 4th, that support becomes trusted, and midday off of a trough there’s a significant move higher. We’ll have a sharp decline on the 5th, either earlier in the day or off of a peak or crest toward the end of the day. On the 6th, there’s a crest toward the end of the day that offers a trade opportunity. From that crest, we’ll sell off to and through support and then move back up to reuse that support level as support. There’s a trough midday on the 7th.


We’ll have a big move higher to meet a key resistance level somewhere around the end of the day on the 8th. We’ll sell off into the cusp of the 8th and the 9th. That’s followed by an unexpected move higher on the cusp of the 10th/11th. There’s a sideways S-formation within a channel on the 11th. That’s followed by bumping up against key resistance on the 12th. There’s some tricky chart behavior in the midst of sideways fluctuations. There’s a notable move to the upside and multiple false tops. On the 14th, we’ll come up against resistance and then have a notable drop off of that resistance that takes us into what’s most likely a lowest low on the 15th. We may be off by a day or two, but it’s most likely between the 15th and 17th.


We’ll see some bullish price swings on the 18th and we’ll successfully turn resistance into new support. On the 19th, there’s a brief peak that’s easily missed followed by a decline through multiple support levels. On the 20th, we have sideways rotation along a key support level. We’ll rise to meet the nearest critical resistance and then fall back down to continue rotating sideways. On the 21st, we’ll come up against key resistance and then crisscross back and forth through it on the 22nd confirming a bullish trend.


We’ll likely meet a highest high on the cusp of the 22nd/23rd. On the 24th, there’s a rally out of a trough midday. That rally increases with momentum moving forward in time on the 25th. On the 26th, we have a period of volatility that ends with a fast, sudden move higher. We’ll have a sharp decline on the cusp of the 26th/27th followed by a sideways-fluctuating rally. There’s a decline on the 28th. Out of a decline on the 29th, we have a move from the bottom of a range to the top of a range. There’s sideways rotation on the 30th that ends with a fast, sudden move higher. On the 31st, we’ll continue to move to the upside.







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