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Crypto dealer Josh Olszewicz – higher recognized to chart-watchers by his deal with @CarpeNoctom – has taken the outdated equities adage “Promote in Might and go away” and given it a canine twist. On Monday he posted a one-day Ichimoku chart of DOGE/USD stamped 28 April 2025, including the quip: “DOGE in Might and Stroll Away?” Behind the word-play sits a value map that highlights the market’s make-or-break zone because the meme coin drifts towards the seasonally tough month of Might.
Promote Dogecoin In Might?
Olszewicz annotates the February–April basing motion with the classical letters S-H-S?, marking a possible inverse head-and-shoulders. The left shoulder shaped in mid-March simply above $0.14; the pinnacle spiked to roughly $0.13 on 7 April; the market is now probing for a right-shoulder low close to $0.17-0.18.
A duo of dotted trend-lines defines a downward-sloping neckline that presently intersects the value axis within the $0.185–0.195 space. A every day shut above that band would validate the reversal sample; the measured-move goal, taken conservatively from the pinnacle ($0.14) to the neckline ($0.185), implies upside towards $0.23. The white reference line drawn at $0.28181 marks a previous horizontal provide shelf – and, not coincidentally, the mid-June projection of Senkou-span resistance – providing a secondary goal if the sample performs out in full.
Associated Studying
The chart additionally employs modified Ichimoku settings (20, 60, 120, 30), widening the lens to go well with crypto’s volatility. At Monday’s shut Dogecoin sits at $0.17533, wedged between a rising Tenkan-sen at $0.16471 and a flat Kijun-sen at $0.18593. Value under the baseline retains the longer-term signal bearish, but the Tenkan flipping beneath value hints at near-term momentum.
Ahead-projected thirty durations, the cloud itself is bearishly purple with its decrease boundary (Senkou Span A) starting at $0.20825 and its higher boundary (Senkou Span B) flat at $0.31392.
In different phrases, even a neckline break would ship Dogecoin straight right into a $0.21–0.31 provide zone that has capped each rally since early January’s cascade. Bulls subsequently face a two-step job: first reclaim the neckline and Kijun, then chew by a month-deep overhang of provide contained in the Kumo.
Associated Studying
The maxim Olszewicz riffs on – “Promote in Might and go away” – stems from centuries-old seasonality in equities, warning of weak summer season efficiency. By substituting DOGE for promote, he floats the contrarian concept that the canine coin itself is likely to be the asset traders stroll towards, not away from, in a historically torpid interval. Technically that thesis hinges on bulls forcing a breakout in the opening weeks of Might, earlier than the neckline descends additional and the cloud thickens.
Failure to take action would go away the sample unconfirmed, hold value imprisoned beneath the Kijun, and protect the prevailing down-trend that started with January’s blow-off above $0.48. Help then rests first on the Tenkan ($0.165), with March’s capitulation wick close to $0.14 as the ultimate line within the sand.
At press time, DOGE traded at $0.178.
Featured picture created with DALL.E, chart from TradingView.com