DOGE, Dogecoin - If it happens, I'll be happy🔥Dogecoin formed a clear triangle. I think if we drop quickly and break out the support level, after that, we go back to the triangle area and start squeezing to resistance, it will be a great pattern for buying. In this case, I'll be sure in a long position.
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P.S. I personally will open entry if the price will show it according to my strategy.
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Dogeanalysis
Time Frame Sync - $DOGEThe chart here is defining 3 possibilities, 2 of which I think most likely.
1. Short term reversal. Scenario produces event of push up to around .35-.37. Looks for new support or dies out.
2. Date range to reach 0.25 if no short term reversal (likely). If we find strong support here, look for sideways movement, into building support and crawling upward (slow).
3. Time frame sync with prior shelf repeating here. Sell off to under .25 to about .17-.19, then slight reversal to .20-.21 to create the next shelf, looking for new support and resistance. Less likely, but probable due to trends.
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Dogecoin Long EntryDogecoin Long Entry on the confluence of the pullback trend and longer term horizontal support. If Dogecoin hits this confluence it is a *Very* nice time to go long.
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↑ DOGE UPDATE 5.14 ↑ LONG LIVE ELONTP1 Hit / stop loss moved to breakeven.
As stated in my last update:
"3 conditions for longing", we nailed all 3. We are looking at a near term pullback possibility which I will use as an opportunity to pen a new long trade.
On the 1 HR chart the macD line and signal line are almost crossing which would confirm a correction.
Alternatively if selling I would take profits at stated entry targets
[13 May] DOGEUSDT Outlook...THINGS TO NOTE!!!Currently, we can see that dogecoin is moving towards an area of BULLISH pressure. Today's candle managed to reject off the 61.8% fib level as we see a BULLISH candle. However, BULLISH pressure as of now does not seem to be making a strong rejection. I am expecting price to break down this level moving towards 78.6% fib level before we see greater BULLISH pressure. Having said that, if you are planning to enter a short position now do reconsider your choice. In fact, traders who entered their short position long ago might look to close their position soon.
Does that mean that a Long position is better in this situation?
Yes but it also depends on the price action. I have identified a price range where I expect BULLISH rejection to take place. This will give a clean rejection off our MA and EMA as well if price is to break down slightly lower. However, we have to adapt to situation if we see BEARISH impulse candles. As of now, dogecoin is heading towards a demand zone.
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Doge; the bad puppy - Waiting for entry!!We can observe the great similarity of movement with the past DOGE, an entry with a high probability of success would be to wait for the rebound at the 100 EMA .
MANAGE YOUR RISK! The loss you take in case of failure should NEVER be more than 2% of your total capital. NEVER.
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