Technically Speaking – June 16, 2023

Sad. 😢

That’s the way I would describe $DOGE‘s weekly chart. Sad. 

As sad as a penguin with a sunburn. 🐧

DOGEUSD Weekly Chart – Click to enlarge.

While there’s clear buying below the $0.07 value area, follow-through doesn’t appear to be that strong. 

Bulls have had an equally hard time getting and staying above $0.09, as the bears have had to try to stay below $0.07. 🤿

And this misery has gone on since December 2022. Is there anything coming up that might make things better? Almost nothing, except for one teeny tiny thing on the monthly chart. 

DOGEUSD Monthly Chart – Click to enlarge.

It’s barely noticeable, but there is a Kumo Twist that appears in July. Kumo Twists occur when Senkou Span A crosses above or below Senkou Span B. Kumo Twists can often be a ‘heads up’ for the market that a change in direction may occur. 

This is especially true if the instrument has been trending in a single direction over a long period of time. Does that mean Dogecoin is set to rally? Nothing is certain, but it’s definitely something to watch out for. 👀

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🔮 “Rich Dad Poor Dad” author Robert Kiyosaki forecasts Bitcoin hitting $300K by 2024: Citing the cryptocurrency’s rally past $69,000 following the introduction of spot Bitcoin ETFs and despite the recent 10% dip, Kiyosaki remains steadfast, advocating for investment in Bitcoin and praising its performance against the US dollar. Kiyosaki highlights its role against central banks and its potential to bring integrity back to money. Read it at Benzinga

🚫 Warren Buffett reaffirms his critical view of cryptocurrency, dubbing Bitcoin “rat poison squared”: The grumpy old man also said he wouldn’t spend $25 for all the Bitcoin in the world. Despite Bitcoin’s increasing acceptance, Buffett’s stance has been unwavering, viewing cryptocurrency as speculative and without tangible value. Yahoo! News has more

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