DOGE RALLY IS OVER Multi Year Correction/Consolidation ComingDOGE was fun if you knew how to trade it. The run and hype is over. The retail FOMO investors that completed wave 5 blow off top are the only ones holding the bags now. Indicators are showing real weakness and heavy selling pressure. The symmetrical triangle in a downtrend means continuation to the downside. Not financial advice. Have fun and don't lose your shirt.
Doggycoin
The Essence of Trading Games1.The essence of trading games is constantly seeking the optimal strategy in a dynamic and changing environment.
2.The essence of trading is a group game. To trace it back, it is about constantly evaluating the amount and inclination of potential buyers outside the market, against the amount and inclination of chips held inside the market. Buy when the former is greater than the latter, and sell when the latter is greater than the former. The reasoning for buying inclination mostly comes from the effect of making profits, while the reasoning for selling inclination mostly comes from the effect of losing money. Then, combined with the overall market trend and the current hot spots, instant operational judgments are made. Operations are instantaneous while judgments are dynamic.
3.The essence of stock price movement is a game between holders and fund raisers. One should understand the motivations of both parties and position themselves on the active side. As the market sentiment shifts from limited downside to disappointment and exiting, the emotional part of the chips held inside the market gradually dissipates. At the same time, outside funds gradually accumulate. When the moment of market sentiment reversal arrives, funds will flock in, and this process will continue to repeat. If there are any regularities in the stock market, this process of emotional transformation is one of them and will not change greatly within the next thousand years.
4.During a strong market, the logic of buying stocks is that capital under the effect of making profits continuously enters the market, so the probability of selecting strong targets by later funds is high. Therefore, strong targets are chosen. During a weak market, the logic of buying stocks is that the spreading effect of losing money in the market leads to the continuous outflow of panic-selling. Thus, only a small amount of buying can push prices up. Therefore, buying at a low price is advisable.
5.Studying history provides insights into the rise and fall of things. This is also true for the stock market. Once the regularity of the rotation of past hotspots is grasped, the accuracy of natural expectations will improve.
6.If one understands the heart of the market, success will follow closely. If one's heart is controlled by the market, failure will persist.
7.Not all phenomena can be explained, but some have universal regularities. For example, the good timing for left-trading is after a continuous decline followed by a collective sharp decline. One should be particularly careful when there is a collective limit up after a continuous increase.
DOGE - Where do we go from here? DOGE - where do we go from here?
Recap
1. Price going higher with decreasing volume
2. RSI bearish divergence
3. Price broke down below 20 (orange shade) and 50 (red shade) of the 4H EMA
4. Price bounced off 200 (purple shade) 4H EMA
See the same pattern from mid to late April before the latest run.
What's next?
In the next week or 2, I'm NEUTRAL.
I see interest dying down, low volume, short term traders had taken profit (sell low), hodlers holding, low # of buyers. Doge likely will range-bound around the 20 and 50 EMA - 40-45cent mark while awaiting the next rumor.
HAPPY TRADING!
To the MARS by Elon - Channels working wellHi guys,
Honestly , Even many analyis were saying DogeCoin will go up until 0.7 last week. But Let's accept that we all though it was going to moon to 1 dollar range with Elon SNL show. After the show , Unfortunately, DogeCoin literally crashed .Now , it is consolidating price to charge some power. When we look the bigger picture. We saw last months , Doge made a nice channel and moves in the channel for a while. I draw the channel and as channel broken level I added another channel top of old channel as long as old one.It was pointing 0.74 exactly for target. Last week Doge coin literally touched 0.74 and come back to 0.4-0.50s. Now As we see in the graph , There is high posibility that history will repeat itself and we will experience another channel break to up. For that channel break , we draw another channel top of current channel and It is pointing 1.04 dollars. As we see in also RSI , movement looks exactly identical as last month drop and rocket. I hope that history will repeat itself and DogeCoin will rocket again.
Honestly , I saw many bad analysis on DogeCoin or some gurus saying that it will crash to cent again. or it will keep going down. For my opinion, This all analysis and bets on DogeCoin for short is total Bulls***t. It was a big moment what happened in SNL. DogeCoin literally showed all market that it can control and dominate all the coins in the market. We never see this movement before in any coin other than BTC. Last Saturday , Even DogeCoin crashed , It proved that It has a power to dominate and control the market. It is huge. Also after the show , Elon is keep pushing and take even more responsibility by tweeting and supporting DogeCoin. We should all have think a second and accept DogeCoin is out of meme , out of joke from now on. It has a power and It showed whole traders how it can get powerful is.
Sorry for this long Anaylsis on Doge. I just felt like to say all my opinions for that traders waiting hopeless after the crash. I hope we will see the Moon as Elon Musk said :)
Not a financial Advise.
Lets watch guys!