Even Elon Musk can’t save Dogecoin from crashing another 60%, analyst asserts By Cointelegraph



Even Elon Musk can’t save Dogecoin from crashing another 60%, analyst asserts

If one looks at Dogecoin (DOGE) charts from the point of view of a financial chartist, he/she will notice an alarming presence of a classic bearish structure.

For instance, pseudonymous analyst Tyler Durden highlighted what appears to be a “Head and Shoulder” pattern. The trading structure forms when an asset forms three peaks atop the same support level. In doing so, its middle peak comes out to be higher than the other two.

Dogecoin crash anticipated if its breaks below $0.299-support. Source: Tyler Durden, TradingView.com
D weekly chart shows the next support confluence in the $0.040-0.047 area. Source: TradingView.com