DOGE just broke through significant support. According to the strictest of rules it would become resistance, but that hasn't really held true because of all the hype. Hype has drained a bit and it might now start to behave a little more predictably. Because that very solid red trendline has been broken, support at .065 is being threatened and it could mean a relatively steady fall through .062 and into the .05XXX areas, but I'm waiting patiently. Still looking to buy back in, but won't until it comes down significantly from here. Please let me know if you agree/disagree! Always looking to incorporate other perspectives in my trades.
Note
The worst-case scenario seems to be playing out as I thought it would. Bounce off of .055 and now back down again. .055 is a critical support so once that goes it might really dump, although it may be exactly where others start buying in. We shall see!Note
Look out below. Next support level is 0.0424
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.