DOGEBTC trade ideas
Shorting H&S pattern with R:R3 for approx 40%Hello everyone,
This is closer view and timing of potencial short for DOGE from previous idea
Be very carefull because spiky upward trap might happend. Before going short I personally would wait for that stoch cross
Keep in mind the monthly RSI
ChaChain
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Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
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WHAT WILL HAPPEN TO DOGE?!Dogecoin has an insane run over the past few months from 23 sats to 700ish sats.
Doge also caused the last week btc retrace because all the money went to doge from btc.
That is why when all crypto markets falling dogecoin was rising.
But now markets are getting less volatile and dogecoin seems to enter a consolidation period.
To be honest i m expecting price retrace until between 300-250 sats area after consolidation but i dont recommend shorting especially this coin because this coin is open to manipulation!
I definitly not buy from this price because this coin can only go low in the long term.
Also volume is decreasing a lot lately. Without volume bull run can not continue! Rsi says we are overbought too.
Be careful in this times because right now we are in a bear market which is actually needed!
DOGE - the final runIt looks like we are about to start the final run before a typical for DOGE huge drop - probably around -60%, and then after some correction back to leveles <100 satoshi.
The trend was broken, RSI main trend is falling. The support is at 0.5 fib, I think we will bounce around 0.7 fib - which is around 646 satoshi.
Multitimeframe analysis supports this idea as well.
It's also very similar how BTC/USD run out of fuel at the end of 2017.
Not financial advice. Trade safely.
Cheers!
Garbage that Goes Up for No Reason Must Come Down: DOGEDOGE is meme coin that celebrities have been pumping, after which it regresses to the mean.
Long term, BTC has gained against just about every major cryptocurrency except Ethereum, Chainlink, and Binance Chain; this is an easy short with RSI near 100. With 3x leverage and allocating no more than 10% of capital to this trade, the risk-reward is quite good.