DOGE/USDT 1DAY UPDATE BY CRYPTOSANDERSHello, welcome to this DOGE/USDT update by CRYPTO SANDERS.
CHART ANALYSIS:-Dogecoin (DOGE) rose by as much as 5% in today’s session, as the meme coin recovered from yesterday’s bear run.
Following a low of $0.07007 on Thursday, DOGE/USD raced to an intraday high of $0.07579 earlier today.
The move came as dogecoin bulls bought yesterday’s dip, which saw prices fall to a floor at the $0.07000 mark.
Looking at the chart, the rally also coincided with the 14-day relative strength index (RSI) breaking out of a ceiling at the 45.00 mark.
As of writing, the index is marginally above this point, with a current reading of 45.52.
The next visible point of resistance appears to be a ceiling at 47.00, which seems to be a reason why earlier bulls have begun to abandon previous positions.
I have tried to bring the best possible outcome to this chart.
Hit the like button if you like it and share your charts in the comments section.
Thank you
Dogeshort
DOGEUSDT heading for daily supportAs mentioned in the last post, price moved up and touched the weekly resistance before moving down.
Now it seems price might be headed for the daily support region as marked in the chart. This daily support has already been tested after the breakout from that level.
Dogecoin’s December trajectory Dogecoin has now made its way through a trend reversal, after its sharp rise and pullback in the back half of October and first half of November. In October, DOGE began a massive rally, gaining over +150% in just five days. About half of these gains have been given up now as some traders booked their profits. In the middle of November, Dogecoin experienced a period of consolidation between 0.0742 and 0.0900 creating a double bottom at the same time, giving the first possible signal that the coin was ready for a trend switch.
The trend reversal was confirmed by the Fisher Transform Indicator on the daily timeframe. A crossover between the indicators signal lines can be witnessed after it created support at 0.07450. Since then, we have seen the price move to the upside, breaking above 0.0900, a previously strong resistance.
Looking at the current price action at the start of the week, DOGE may be in a new area of consolidation and trying to break the resistance at 0.1070. Looking back at the Fisher Transform, we can see that it is again indicating a crossover signal, which may hint that DOGE is posed for an upside breakout. If the price successfully breaks the resistance at 0.1070 and manages to close above the daily chart, the next price target to watch includes 0.1420 if the momentum is strong enough.
Besides the technical side of Dogecoin, it might pay to keep an eye on news emanating from Elon Musk by way of Twitter. Speculation has been rife that Musk will announce that the social media platform that he recently acquired will adopt Dogecoin as some form of payment method. Last week, Musk shared slides from a presentation he gave to the Twitter leadership team detailing his version for ‘Twitter 2.0’. Included in the presentation were slides related to ‘payments’, opening speculation that Musk may be wanting to form some kind of integration with his favourite cryptocurrency.
DogeCoin 4H AnalysisTrade Idea
🟡 #DogeCoin 4H
✍️The strength of the trend in Dogecoin is more likely to move up to the supply limits in the four-hour time frame. Consider two trading setups for buying or selling Dogecoin in the following ranges.
🔰 For buy a limit Orders👇👇
🟢Minor Order Block >🟢0.0.087$ -0.09$
🟢Major Order Block >🟢0.079$ -0.082$
🔰For Sell limit Orders👇👇
🔴Minor Order block >🔴0.113$ - 0.115$
🔴Major Order Block> 🔴0.122$-0.1305$
📊Poc (Point of Control) : 0.095$
⚠️ Margin 1% For each position.
⚠️Use Tight Stop Loss.
✍️Desert Eagle
📊Analysis Method SMART Money
Concept + ICT+ Volume Profile
(DYOR)
📆11.27.2022
⚠️This Analysis Will Be Updated⚠️
💸Good Luck Traders.
DOGEUSDTDOGEUSDT looks good for a small short setup here.
entry around 0.094 - 0.0972
Take profit areas: 0.087, 0.081, 0.075.
Wait for confirmed rejection, dogecoin has visited the level 3 times on the 4h chart now. Set strict SL and manage it yourself. Remember proper risk management.
On the hourly, we can see some sort of an uptrend or possibly ascending triangle.
Stochastics 1D RSI shows a 80% downside move is possible. Please look at previous times our 1D RSI Stoch hit overbought levels, it is incredibly high now. I opened a risky short at 3x, I think we will all go down to 0.01!
You may be angry, but please analyze the chart yourself. I highlighted the important parts.
DOGEUSDT - review of the chart on the 4H intervalHello everyone, let's take a look at the 4H DOGE to USDT chart as you can see the price is moving above the local uptrend line.
Let's start by setting goals for the near future that we can consider:
T1 = $ 0.0786
T2 = $ 0.0798
T3 = $ 0.0807
T4 = $ 0.0816
and
T5 = $ 0.0830
Now let's move on to the stop loss in case of further market declines:
SL1 = $ 0.0771
SL2 = $ 0.0766
SL3 = $ 0.0761
SL4 = $ 0.0757
SL5 = $ 0.0751
and
SL6 = $ 0.0743
Looking at the CHOP indicator, we can see that in the 4H range the energy was used and the MACD indicator confirms the local upward trend.
DOGE is about to leave the triangleHello everyone, let's take a look at the DOGE to USDT chart on the 1H time frame. As you can see, the price moves in a triangle marked with blue lines in which we are approaching the exit.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 0.0828, if the support breaks down, the next one is $ 0.0796 and $ 0.0748 and $ 0.0687.
Now let's move from the resistance line as you can see the first resistance is $ 0.0879, if you can break it the next resistance will be $ 0.0937 and $ 0.0994 and $ 0.1078.
Looking at the CHOP indicator, we can see that at the 1H interval we begin to regain energy.
DOGE keeps the price on 1 supportHello everyone
Let's take a look at the DOGE / USDT chart on the 4H interval.
Please note that the price is moving under the downtrend line.
Let's move on to the designation of the support line and as you can see the price is currently holding on the first support at $ 0.114, the next support is around $ 0.106
Looking the other way, it is worth drawing resistance lines that the price must overcome in the near future, the first resistance is at $ 0.123, another at $ 0.132 and $ 0.14.
Let us pay attention to the CHOP indicator which shows that at this moment the energy has been used.
BEARISH!!!Descending triangle On the weekly charts, Doge and XRP seem to be presenting a descending triangle. This is a bear case scenario and I would expect the crypto to drop down to previous Supply-demand zones around $.05868261 or maybe new zones as the lowest Supply-demand zones seem to be weak.
Dogecoin SHORT TO $0.08 or $0.04 Dogecoin going on an A-B-C ZIG-ZAG correction which is a (5-3-5 wave) very common after a good 5 wave impulse
Blue 5 wave Elliot wave in 2021 Jan TO May
ABC corrective wave in RED
We are now in Wave C in the ZIG-ZAG correction (PURPLE)
Wave C is going through sub wave (4) and sub wave (5), we are already going below 78.6% FIB retracement, so the next best points are 88.6% and 94.1% and they are derived by the following formulae:
88.6% price level is derived by squaring (or multiplying by itself) from the Golden Ratio, 0.618:
0.618 x 0.618 = 0.786 (78.6%)
0.786 x 0.786 = 0.886 (88.6%)
0.886 x 0.886 = 0.941 (94.1%)
88.6% retracement price is $0.08
94.1% retracement price is $0.04
I believe DOGE will still be shorted and may find the reversal at that zone
Please like and comment for feedback
DOGEPERP 1HOURLY NEAR FUTURE PREDICIONSTechnical Analysis Summary
DOGE /USDT
TREND ANALYSIS
We have 2 trends (1 upward (green) and another downward (red) ) creating a triangle formation)
FUTURE PREDICTIONS
Techicals analysis can only predict move ahead
First Scenario
We can either continue going up and break the down trend and hit our first resistanse level 0.284572 (In Red) and start the reversal downward.
Second Scinario
We start moving downward and break the up trend to reach the support levels (0.203440) or greedier level (0.19685) and start reversal upward.
I use the momentum indicator only as a additive to my trading but i dont base my trades on it.
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
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