DOGE 12h Come to Papa my puppy /I.Musk/
Updated
April turned out to be very active for DOGECOIN investors
Large investors in DOGE had a great desire to sell it at a high price, we think this is the motivation that helped raise the value of DOGEUSDT by +760% in half a month.
And then, those who did not want to take profits or those who bought on highs in anticipation of $1 for DOGE, a -65% correction awaited.
As the history of DOGEUSD price behavior shows, after such rapid growth, the phase of consolidation and position accumulation begins.
Those who did not trade DOGE on margin, but only on the spot and had strong nerves, could sit out such a strong drawdown of the deposit. Our nerves are too weak for this), so we always trade with stops.
Now the market can give a chance to sell DOGEUSDT in the $0.330-0.360 zone. Since further the instrument may fall and get stuck in the consolidation.
There are two ways out of consolidation:
1) a break above $0.36 to the coveted $0.80-1.00
2) below $0.20, the path to $0.060 may open, as horizontal volumes show, large poses were recruited before the pump approximately below $0.060.
How to trade in the cryptocurrency market, especially such high-volatility instruments, is, of course, an individual matter.
But it is worth remembering that the only thing that we can control in the market is the risks that we are ready to accept for deposit.
_____________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Large investors in DOGE had a great desire to sell it at a high price, we think this is the motivation that helped raise the value of DOGEUSDT by +760% in half a month.
And then, those who did not want to take profits or those who bought on highs in anticipation of $1 for DOGE, a -65% correction awaited.
As the history of DOGEUSD price behavior shows, after such rapid growth, the phase of consolidation and position accumulation begins.
Those who did not trade DOGE on margin, but only on the spot and had strong nerves, could sit out such a strong drawdown of the deposit. Our nerves are too weak for this), so we always trade with stops.
Now the market can give a chance to sell DOGEUSDT in the $0.330-0.360 zone. Since further the instrument may fall and get stuck in the consolidation.
There are two ways out of consolidation:
1) a break above $0.36 to the coveted $0.80-1.00
2) below $0.20, the path to $0.060 may open, as horizontal volumes show, large poses were recruited before the pump approximately below $0.060.
How to trade in the cryptocurrency market, especially such high-volatility instruments, is, of course, an individual matter.
But it is worth remembering that the only thing that we can control in the market is the risks that we are ready to accept for deposit.
_____________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
Trade closed: target reached
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
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.