There’s a very simple and clear chart setup on Dogecoin (DOGE) right now.
We have two major horizontal key levels and a channel that is about to break down. If the price manages to close above the yellow-marked line ($0.21142), we can expect a strong rally to follow.
There’s no need for complicated indicators cluttering the screen — all relevant levels are clearly marked on the chart.
Two Logical Entry Approaches:
1️⃣ Breakout Entry: Enter on a confirmed breakout. (Waiting for a daily candle close on a memecoin might slightly reduce your profit range, but it’s the safer approach.)
2️⃣ Demand Zone Entry: Wait for the price to retrace to the green demand zone — though this scenario seems less likely for now.
A combined approach can work best: enter on breakout, use the horizontal levels as support, and set a tight stop-loss to manage risk.
Good Luck.
We have two major horizontal key levels and a channel that is about to break down. If the price manages to close above the yellow-marked line ($0.21142), we can expect a strong rally to follow.
There’s no need for complicated indicators cluttering the screen — all relevant levels are clearly marked on the chart.
Two Logical Entry Approaches:
1️⃣ Breakout Entry: Enter on a confirmed breakout. (Waiting for a daily candle close on a memecoin might slightly reduce your profit range, but it’s the safer approach.)
2️⃣ Demand Zone Entry: Wait for the price to retrace to the green demand zone — though this scenario seems less likely for now.
A combined approach can work best: enter on breakout, use the horizontal levels as support, and set a tight stop-loss to manage risk.
Good Luck.
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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.