R.ACEACEACE #DOGE #DOGECOIN #DOGEUSD ROAD TO $1.00:$0.16-$0.40
I believe DOGECOIN is the most undervalued cryptocurrency. As I've said, I believe the DOGECOIN price is behaving similar to that of ETHEREUM in 2016-2017.
I am astonished that many leading Crypto Twitter O.G's have been shorting at these levels or even attempting long trades.
I believe DOGECOIN is a BUY and HOLD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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UPDATE TO MY ANALYSIS:
The price is slowly pushing out of the 8/1 Gann Fan line drawn from the pivot high (this line is circled in green).
I believe the price will consolidate (move in a sideways pattern). If BTC is able to push up higher, I believe DOGE will spring into action.
I believe the next DOGE pump will very likely be stronger in strength and put in a move three times stronger in magnitude than the most recent pump.
Good support is still at $0.0066
Resistance: $0.0736, $0.16, $0.25, $0.40
If the price is able to clear above $0.40, I believe it is most likely for the price to continue toward $1.
Please understand that continuation of the uptrend completely, for now, depends on BITCOIN continuing its move up. If BITCOIN continues higher, I believe DOGECOIN is most likely going to continue its upward trend. In the event BTC dumps hard, DOGECOIN will most likely continue down to support at $0.0066. Thus, I believe I should not invest more than I can completely afford to lose. Many traders are frustrated when they see that BITCOIN has moved higher but DOGECOIN has not. In my opinion, DOGECOIN tends to have a delayed reaction. In my opinion, patience is not a problem if one can completely accept one's risk before entering a trade. Please understand that the current BITCOIN price action is very choppy, but I believe it is still continuing upward. Please see my published BITCOIN trade ideas for my views on BITCOIN: see the links below this trade idea.
I also believe that if DOGECOIN reaches between $0.40 and $1 an intense amount of FOMO is likely to kick in because people would not be able to afford not having DOGECOIN. At $1 people would begin to think of $100's and would not want to miss out. Whether DOGECOIN continues to $100 is entirely a discussion for another time in the future because I believe it has much to prove first. However, I do believe $14+ DOGECOIN is possible in 2021.
I believe the best strategy is to buy and hold. I do not believe it is in the best interest of most traders to trade DOGECOIN on a margin account. In my experience, those who trade on margin tend to miss out on the greater moves. New traders, especially, tend to give up their gains and accumulate losses when trading on margin accounts.
Once again, I'd like to remind you, especially those new to the market, not to invest or trade more than they can completely afford to lose. Look at the cryptocurrency charts of 2018 if you want to know how ugly it can get at any time.
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I believe that many people are underestimating the strength of BITCOIN. Many traders have sold out their BITCOIN and believe the top is near. They may very well be correct, but it is more likely that BITCOIN continues to sustain its trend and push higher. The market makers are doing a very good job at pushing out news about institutions buying and news about other fundamentals about Bitcoin. In my opinion the FOMO levels of the 2017 bull run have not yet been reached and there is much more room for BITCOIN to grow this year, leaving open lots of opportunity for DOGECOIN.
I also believe that if BITCOIN pushes to higher prices, it will become unaffordable to most traders / investors, so they will opt for something cheaper: DOGECOIN.
I do not believe DOGE is being pumped by retail investors. I believe bigger players in the game are accumulating.
The amount of attention DOGECOIN has been getting in the news, on social media, and even Elon Musk himself should not be taken lightly.
I find it surprising that nobody makes mention of Elon's most recent remarks on Dogecoin in which he said, "I find that often times the most ironic or entertaining outcome is the most likely. And to me the most entertaining outcome would be Dogecoin becoming the global new earth currency."
People still have the audacity to call Dogecoin a meme coin. I believe this will come to change very quickly and these very people will be forced to buy the bags of those who have already bought and are holding.
DOGECOIN, in my opinion has very strong technical aspects on the chart as well as strong fundamentals going for it, especially that it is a cryptocurrency with a long history. I also like that it is not controlled by a few people as it is widely spread out. However, I do not care too much for the fundamental aspects because I am a technical trader. I do know that these fundamentals on DOGECOIN combined with the technical aspects should not be taken lightly, especially not scoffed at.
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This analysis is not financial advice. I am just expressing my opinion about what I think about the market. I am not a qualified financial advisor nor am I a registered financial expert in any country. For financial advice one could seek a registered and qualified financial advisor in one's own country. Please do not look to me or ask me for financial advice.
Please do your own analysis, responsibly manage your risk, and stay safe.
THANK YOU FOR HITTING THE LIKE BUTTON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I am astonished that many leading Crypto Twitter O.G's have been shorting at these levels or even attempting long trades.
I believe DOGECOIN is a BUY and HOLD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
UPDATE TO MY ANALYSIS:
The price is slowly pushing out of the 8/1 Gann Fan line drawn from the pivot high (this line is circled in green).
I believe the price will consolidate (move in a sideways pattern). If BTC is able to push up higher, I believe DOGE will spring into action.
I believe the next DOGE pump will very likely be stronger in strength and put in a move three times stronger in magnitude than the most recent pump.
Good support is still at $0.0066
Resistance: $0.0736, $0.16, $0.25, $0.40
If the price is able to clear above $0.40, I believe it is most likely for the price to continue toward $1.
Please understand that continuation of the uptrend completely, for now, depends on BITCOIN continuing its move up. If BITCOIN continues higher, I believe DOGECOIN is most likely going to continue its upward trend. In the event BTC dumps hard, DOGECOIN will most likely continue down to support at $0.0066. Thus, I believe I should not invest more than I can completely afford to lose. Many traders are frustrated when they see that BITCOIN has moved higher but DOGECOIN has not. In my opinion, DOGECOIN tends to have a delayed reaction. In my opinion, patience is not a problem if one can completely accept one's risk before entering a trade. Please understand that the current BITCOIN price action is very choppy, but I believe it is still continuing upward. Please see my published BITCOIN trade ideas for my views on BITCOIN: see the links below this trade idea.
I also believe that if DOGECOIN reaches between $0.40 and $1 an intense amount of FOMO is likely to kick in because people would not be able to afford not having DOGECOIN. At $1 people would begin to think of $100's and would not want to miss out. Whether DOGECOIN continues to $100 is entirely a discussion for another time in the future because I believe it has much to prove first. However, I do believe $14+ DOGECOIN is possible in 2021.
I believe the best strategy is to buy and hold. I do not believe it is in the best interest of most traders to trade DOGECOIN on a margin account. In my experience, those who trade on margin tend to miss out on the greater moves. New traders, especially, tend to give up their gains and accumulate losses when trading on margin accounts.
Once again, I'd like to remind you, especially those new to the market, not to invest or trade more than they can completely afford to lose. Look at the cryptocurrency charts of 2018 if you want to know how ugly it can get at any time.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
I believe that many people are underestimating the strength of BITCOIN. Many traders have sold out their BITCOIN and believe the top is near. They may very well be correct, but it is more likely that BITCOIN continues to sustain its trend and push higher. The market makers are doing a very good job at pushing out news about institutions buying and news about other fundamentals about Bitcoin. In my opinion the FOMO levels of the 2017 bull run have not yet been reached and there is much more room for BITCOIN to grow this year, leaving open lots of opportunity for DOGECOIN.
I also believe that if BITCOIN pushes to higher prices, it will become unaffordable to most traders / investors, so they will opt for something cheaper: DOGECOIN.
I do not believe DOGE is being pumped by retail investors. I believe bigger players in the game are accumulating.
The amount of attention DOGECOIN has been getting in the news, on social media, and even Elon Musk himself should not be taken lightly.
I find it surprising that nobody makes mention of Elon's most recent remarks on Dogecoin in which he said, "I find that often times the most ironic or entertaining outcome is the most likely. And to me the most entertaining outcome would be Dogecoin becoming the global new earth currency."
People still have the audacity to call Dogecoin a meme coin. I believe this will come to change very quickly and these very people will be forced to buy the bags of those who have already bought and are holding.
DOGECOIN, in my opinion has very strong technical aspects on the chart as well as strong fundamentals going for it, especially that it is a cryptocurrency with a long history. I also like that it is not controlled by a few people as it is widely spread out. However, I do not care too much for the fundamental aspects because I am a technical trader. I do know that these fundamentals on DOGECOIN combined with the technical aspects should not be taken lightly, especially not scoffed at.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
This analysis is not financial advice. I am just expressing my opinion about what I think about the market. I am not a qualified financial advisor nor am I a registered financial expert in any country. For financial advice one could seek a registered and qualified financial advisor in one's own country. Please do not look to me or ask me for financial advice.
Please do your own analysis, responsibly manage your risk, and stay safe.
THANK YOU FOR HITTING THE LIKE BUTTON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Trade active:
Price has broken out of the 8/1 Gann Fan line and will likely continue to next resistance. Continued momentum does depend on BTC remaining stable or continuing upward.
Trade active:
Beautiful
Trade active:
Everything is going according to plan. Price is consolidating. A push up on BTC should send Doge to resistance.
Trade active:
Please see updated trade idea: Click on the link (chart)
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