DOGECOIN - What's Next? 👀
In our last analysis we had 3 levels where we were looking for reversal. The most recent level of 0.17 failed to hold so now we look at the next level which is the 0.08 level.
It's important to note that we want to be reactive whilst also being proactive. Proactive in the sense that we look for areas of interest where price may react. Reactive in the sense that we have a plan for when price does react to an area of interest.
First area: 0.17 (FAILED TO HOLD)
Second area: 0.8 to 0.9 (Next area of interest)
It was previous a level dogecoin failed to break. This could hold some relevance if price gets back here and may act as a support for the next bounce.
Third area: 0 to 0. 01 (Unlikely Scenario)
Depending on how you see it, this could either be the best case scenario or the worst case scenario.
Best case: if you're not holding any Dogecoin at the moment and want to get in and stock up. If bought near 0, any move up would mean exponential gains for your portfolio!
Worst case: If you are holding Dogecoin and your portfolio is bleeding. However, this may just be a blessing in disguise as it can be an opportunity for you to get more Dogecoin!
Trade Idea:
- Watch for bullish signs at the next area of interst
- Safe entry on break of long term descending trendline
- stops below the most recent price rejection
- Targets: 0.34, 0.70, hold the rest.
Goodluck!
It's important to note that we want to be reactive whilst also being proactive. Proactive in the sense that we look for areas of interest where price may react. Reactive in the sense that we have a plan for when price does react to an area of interest.
First area: 0.17 (FAILED TO HOLD)
Second area: 0.8 to 0.9 (Next area of interest)
It was previous a level dogecoin failed to break. This could hold some relevance if price gets back here and may act as a support for the next bounce.
Third area: 0 to 0. 01 (Unlikely Scenario)
Depending on how you see it, this could either be the best case scenario or the worst case scenario.
Best case: if you're not holding any Dogecoin at the moment and want to get in and stock up. If bought near 0, any move up would mean exponential gains for your portfolio!
Worst case: If you are holding Dogecoin and your portfolio is bleeding. However, this may just be a blessing in disguise as it can be an opportunity for you to get more Dogecoin!
Trade Idea:
- Watch for bullish signs at the next area of interst
- Safe entry on break of long term descending trendline
- stops below the most recent price rejection
- Targets: 0.34, 0.70, hold the rest.
Goodluck!
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