Children of the Doge
Updated
What runs faster than this Doge? For now, this coin is enjoying a massive rally that is almost ready to reach its fever pitch.
I do not think it is too much to ask, however, for an asset that just reached the major resistance zone (representing the .70 area) to make at least some small pullback before it starts running even faster.
My hope is that Doge drops one more time to around .50, which is just above the purple uptrend line.
If Doge drops to the .382 of this entire move up, it would still be a very shallow retracement.
But since odds are unlikely it will drop any further than that, let's make that our goal for a buy zone.
My target is roughly .97 by Saturday and I would sell once it gets to that range.
If this trade works out this will result in almost 100% profit in a matter of two days.
Good luck and Dogecoin to the moon!
I do not think it is too much to ask, however, for an asset that just reached the major resistance zone (representing the .70 area) to make at least some small pullback before it starts running even faster.
My hope is that Doge drops one more time to around .50, which is just above the purple uptrend line.
If Doge drops to the .382 of this entire move up, it would still be a very shallow retracement.
But since odds are unlikely it will drop any further than that, let's make that our goal for a buy zone.
My target is roughly .97 by Saturday and I would sell once it gets to that range.
If this trade works out this will result in almost 100% profit in a matter of two days.
Good luck and Dogecoin to the moon!
Note
I should clarify that .70 was the .618 fibonacci extension from the swing low of Feb 23rd to the swing high of April 16th. This was a clear profit-taking zone for me. But given the Elon news is for Saturday and we are still 2 1/2 days away, we are definitely going higher. A lot higher.The 1.618 is at $1.10. So it is possible to reach that zone by Saturday. I think however that the narrative 'Doge to $1' will make most people set their sell orders at that level, making it a pretty insane resistance zone. I believe the smart money will be eyeing the 1.272 fib extension at .97, and cash out just under the projected $1 level.
I could be wrong and I hope Doge does go well over $1 next. Even if it doesn't reach that now it seems highly likely that by the end of this bull run it will be worth a whole lot more than even $1! All I'm saying is, take profits on the way up or risk holding a bag that gets heavier again for awhile.
Note
Update: I've longed Doge @ .60 since its pushing to move up out of this triangle. I don't want to miss this... again... if the train leaves the station from here
Note
My tight stop loss just hit, so... it's probably going to go up again lol
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