The post Dogecoin TD Sell Signal Goes Off, But Here’s Why Parabolic Bull Run Can Still Continue appeared on BitcoinEthereumNews.com.

Dogecoin has just showed a Tom Demark (TD) Sequential sell signal, but an analyst has explained how the parabolic run could still continue for DOGE. Dogecoin Is Currently Showing A Pattern Similar To Previous Bull Runs In a new post on X, analyst Ali Martinez has discussed about a TD Sequential signal that has formed for Dogecoin’s weekly price recently. The “TD Sequential” refers to a technical analysis (TA) indicator that points out locations of probable tops and bottoms in a given asset’s price. This indicator involves two phases: the setup and the countdown. During the first of these, candles of the same color are counted up to nine. Once the nine candles are in, the setup is said to be complete, and a reversal in the asset may be expected. Naturally, the price would start heading down if the candles leading up to the setup’s completion were green, while it would catch an updraft if the candles were red. As soon as the setup is over, the countdown begins. This phase of the indicator works similarly to the setup, except for the fact that it lasts for thirteen candles. After these thirteen candles are also in, the asset may be considered to have arrived at another likely point of turnaround. Dogecoin has recently completed the TD Sequential phase of the first type, as the below chart for its weekly price shared by the analyst highlights. As is visible in the graph, Dogecoin has finished the TD Sequential setup with nine green candles, which implies the indicator has just given a sell signal for the memecoin. Considering the indictor’s history, it’s possible that this would lead to a drawdown for the asset. That said, history would also inform us of another thing, as Martinez has highlighted in the chart. It…

---

Filed under: News - @ November 29, 2024 11:25 pm