MCFX2

Dogecoin as an indicator of alt sentiment

BITTREX:XLMBTC   Stellar Lumens / Bitcoin
Dogecoin is an interesting specimen, it only rarely pumps, and that means we can look for patterns surrounding dogecoin pumps.

After looking into dogecoin pumps in detail, I discovered that there was a strong correlation between impressive doge rallies and the general theme of the altcoin market.

I decided to turn what I learned into an indicator, shown above. The green/red area represents the strength of dogecoin's trend and its direction, and the white/blue histogram is the derivative of the green line.

This pattern is obvious on XLM, but you can see it on nearly every alt. Happy trending
Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.