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DOGEUSD trade ideas

DOGE Strong BUY. Next stop $0.90Dogecoin / DOGEUSD is trading inside a Channel Up for exactly 1 year and the price is currently very close to its bottom. The bearish wave is under the 1day MA200 with the 1day RSI oversold, which is exactly the conditions that were present on the August 5th 2024 bottom. This is an excellent long term buy opportunity, potentially the last one that will lead DOGE to its Cycle Top. The natural technical target is the 1.618 Fibonacci extension, which is what the prior bullish wave targeted. Buy and target 0.9000. Follow us, like the idea and leave a comment below!!
CRYPTO:DOGEUSDLong
by TheCryptagon
9
Why I Believe Dogecoin (DOGE) is Going to RiseAfter analyzing Dogecoin (DOGE), I believe it has significant potential to increase in value for a few key reasons: Strong Community Support – Dogecoin has one of the most passionate and active communities in the crypto space. This strong support leads to continuous growth in awareness, use, and adoption, which drives its value up. Increased Recognition – With more celebrities and influential figures like Elon Musk showing support, Dogecoin is getting the exposure it needs to stand out. This visibility is attracting new investors and users. Use Cases in Transactions – While it started as a meme coin, Dogecoin has evolved with real-world use cases, including tipping and microtransactions. As more businesses and platforms accept DOGE, its value is likely to rise. Celebrity Backing and Media Attention – Dogecoin’s rise in popularity has been fueled by media buzz and endorsements, particularly from figures like Elon Musk. This attention gives it a unique advantage in attracting new investors. Low Entry Price – Dogecoin’s relatively low price compared to other major cryptocurrencies makes it an attractive option for newcomers, allowing a broader group of investors to get involved. Conclusion: Given its passionate community, growing recognition, and increasing use cases, Dogecoin has a strong potential to grow. I believe its value will rise as more people get behind it and as it continues to gain real-world utility. Mvh Mert Arslan
COINBASE:DOGEUSDLong
by Immertarslan
1
Bullish Trading Signal Overview for Dogecoin (DOGE)Dogecoin (DOGE) indicates a bullish trading signal. After a prolonged downtrend, we observe a significant reversal pattern with the latest green candle forming a strong bullish engulfing pattern. This pattern encapsulates the previous red candle entirely, suggesting a strong buying momentum and a potential shift in market sentiment from bearish to bullish. Key Observations: Support Level: The chart shows a recent bounce from a low of approximately $0.20914, which now acts as a critical support level. The rebound off this support suggests that the market is rejecting lower prices, adding credibility to the bullish momentum. Current Price: The current price is marked at around $0.23907, showing a noticeable recovery from the support level. Volume: Although not explicitly shown on the chart, the bullish candle's size suggests increased buying activity, which typically indicates rising interest and a potential continuation of the upward trend. Stop-Loss: A stop-loss has been strategically placed just below the recent low at $0.20032, a prudent move to protect against any sudden reversal in the downtrend. Profit Target: The profit target is set at $0.27152, located near a previous area of resistance. This target anticipates a reasonable upswing without reaching for the peak, making it a realistic and achievable goal. Trading Strategy Recommendation Considering the bullish engulfing pattern and the subsequent recovery, entering a long position at the current level or on a slight dip towards the support level seems promising. The stop-loss placement below the recent low limits potential losses, while the profit target provides a favorable risk/reward ratio. Entry Point: Around the current price of $0.23907 or on minor pullbacks. Exit Strategy: Aim for the profit target of $0.27152 while maintaining flexibility to adjust as the price action develops, particularly if the market sentiment continues to strengthen. Conclusion The technical setup for Dogecoin (DOGE) suggests a strong bullish potential in the short term. Traders should monitor volume and price action closely for further confirmation of continued bullish behavior. Always adhere to a disciplined trading plan with defined stop-loss and take-profit levels to manage risks effectively.
COINBASE:DOGEUSDLong
by BulletproofTraders
DOGE: Is the bottom in?This weekend looks like the crypto God candle weekend for the majors. Doge is also looking strong, but chance of it being part of the US strategic reserve is slim to none. But, when tide is rising, it doesn't matter. Right now, the challenge in front of doge is to get out of the downward channel, and fast. The price action has two bullish scenarios left. Depending on how strong the momentum gets, one or the other should come to pass. 1. Ending diagonal (pink): The price action for both intermediate 1 and Minor 1 can be counted as 3 waves zigzag or five waves and be valid. This is something that EW sometimes cannot paint a clean picture until a lot of time passes. But as traders, we need to just figure out the next move and be prepared. In case doge is playing out an ending diagonal pattern, then we should see 3 waves moves to the upside. And since, it is an expanding diagonal, we should see wave 5 is larger than wave 3. So, as a normal range of 1 to 1.236 extension, price should top out between $1.1 to $1.6. The confirmation will be a sharp decline from the top. 2. Wave 3 of 3 of 5 (blue): probability of this should be greater with a strong momentum to the upside. We should see price rocket out of the channel and get to all time high before a meaningful pullback. Price should break through $1 milestone and go higher without stopping for a breather as we have seen in the previous rocket moves. Target will be $6-$10 and level of insanity will be at its peak! How to trade between the two scenarios: The difference of targets between the two scenarios is massive. We don't want to take a risk of losing all the gains in matter of days, nor do we want to stay on the sidelines when price makes 6x gains in matter of weeks. So, to stay safe, it is important to take some profit between 1 - 1.236 fib extension (at least 25% - 30%) and put a stop loss at $0.48 for the rest. There could be other higher areas to put the stop loss to phase out with more gains, but $0.48, which is the top of minor wave 1, and breaking that will be the confirmation of the top. If price doesn't make it to that level and goes back up to make strong highs, then buy back in at the breakout (this would be one of the scenarios where we can buy a breakout) to jump back on the ship and ride the lightning. Bear case: There is always the other side of the coin. If price fails to break above $0.28 and the channel, then chances are, the downtrend will continue. It can keep going down to find support at the trend lines. If the trend lines break, then chance of primary wave 4 still in play goes higher. Target can be anything till $0,018. Hope that is not the case...
CRYPTO:DOGEUSDLong
by mukit1
1
Dogecoin (DOGE), my notes for long-termThere are rising and falling wedges in the " flag formation ." The short-term target of this formation is 0.55 - 0.6. The flag formation target is 0.9 - 1 dollar goal. Apart from this, there is a strong support between 0.2 - 0.22, if it is divided, the bullish formation will not work. The close resistances are 0.31 - 0.37 - 0.44 - 0.56 respectively. Apart from this, movements within the trend lines can be followed. This is not investment advice.
COINBASE:DOGEUSDLong
by murat355555
Is it time to question why you bought? I've made a series of bearish posts on crypto over the last months and had my fair share of feedback on what people are doing and expecting. A lot of you can't be doing too well right now. Perhaps it's time to take another think through why you are doing this and is you're ready for the worst case outcomes. This isn't a gloating post. Many of my peers get really nasty when they make money in shorts. Personally, I know if I'd decided to build my business in something other than trading - I'd have worked hard and be bleeding out that money right now. I'd 100% be a bull from a laymen perspective. I'd be buying things I consider reckless now. I want to offer some insights into why you may have done this so as to give you some counter balance in your thinking on the subject. For one, if you're in crypto alts, pretty good chance you've not done a lot of real analysis. Right? You liked the community, or you had a friend who was in it, you saw a Youtube video ... Basically what happened was BTC went up a lot. You wanted to make that money. And the game changed in such a way that you can not make big gains in BTC so you got into the alts. Right? I imagine that's the case for many. If so, it's time to consider the quality of the info you've gotten. Does it come from the cycles? Mathematically the idea of cycles is entirely nonsense. Such a repeatable cycle is also nonsense from a markets perspective. And all through this "Cycle" you've literally watched it fail. It's nonsense. BTC got higher faster. It's about 10K drop away from the core thesis failing (in absolutist terms) and there was no alt season. Everything is down 50% during the time the idea was mass pimped by content creators (NOT TRADERS ....). Is it Saylor? Saylor is following the same playbook he used during the tech bubble. During 2000 and 2001 the whole thing entirely failed. The debt was converted to shares. Everyone was diluted and then the stock crashed over 90%. It really didn't go so well before. And have you listened to Saylor? Like, seriously? Anytime I see him he's talking about market dynamics and linking it with laws of science. The guy is troll or insane. "What if BTC stops going up". "Hahaha well what if water stops flowing downhill? I think physics solved that one for us". .....WHAT! If it all drops, Saylor will be deemed to have insane. Rambling on in metaphors that made no sense. Is it the internet? Is it the people talking about that? All those people, they can't all be wrong ... right? Have you taken a moment to consider the quality of these people's analysis? Its ...lacking. Have you noticed how childish and rude they are all the time? How they can not engage in a civilised adult debate on a topic? Do you think the fact 70% of their communication is in emojis and insults gives them a strong knowledge base to tell you how to make important decisions? Have you been led to believe the future is known? I see this all the time. People who appear to be complete noobs speaking with complete confidence about the absolutely certain future based on completely no substance. This one is a really short point. Ignore people foolish enough to trick themself into thinking they know the future! === I wish everyone well and hope my bear thesis is wrong. But if I am right - the above will be the opinion of everyone once the mania has died.
COINBASE:DOGEUSDShort
by holeyprofit
13