Smart money levels : Who let the Doge out whoop whoop?!
LIghts on the preferred retail-trader shitcoin of the moment and his real value, DOGE.
The Shiba coin has reached in a few days approximately 5% of the market cap value of btc and is likely to oscillate between this 5% and 1% for a long time even if from my point of view it will rather return to 1% and less in the long run. On this last point it is only a subjective point of view.
So to avoid any subjective bias, we have the technical analysis and especially this magnificent tool that are the fibonacci retracements.
If we completely forget the fact that this is the DOGE we are talking about now : between the end of the study 0 and 0.38 we have what we can call the DUMBZONE (where the unhappy little man is ;) ). This is where unfortunately many retail traders will have bought the shiba coin. If you are working as an institutional or bank trader and have bought at this level, you are done, dead, FIRED!
The 0.618 to 0.786 zone are the levels that smart money is looking at, although remember we are talking about the Doge and I just wanted to make the connection between fibonacci levels and smart money and I doubt very much that smart money is interested in this shitcoin doomed to oblivion and a slow and painful death due to lack of updates and technical support.
Maybe I would do some more in-depth tutorials on fibonacci levels (technical analysis, history, philosophy), it's a very interesting topic to discuss, let me know in comments if interested?
Trade Safe
MORPHEUS
The Shiba coin has reached in a few days approximately 5% of the market cap value of btc and is likely to oscillate between this 5% and 1% for a long time even if from my point of view it will rather return to 1% and less in the long run. On this last point it is only a subjective point of view.
So to avoid any subjective bias, we have the technical analysis and especially this magnificent tool that are the fibonacci retracements.
If we completely forget the fact that this is the DOGE we are talking about now : between the end of the study 0 and 0.38 we have what we can call the DUMBZONE (where the unhappy little man is ;) ). This is where unfortunately many retail traders will have bought the shiba coin. If you are working as an institutional or bank trader and have bought at this level, you are done, dead, FIRED!
The 0.618 to 0.786 zone are the levels that smart money is looking at, although remember we are talking about the Doge and I just wanted to make the connection between fibonacci levels and smart money and I doubt very much that smart money is interested in this shitcoin doomed to oblivion and a slow and painful death due to lack of updates and technical support.
Maybe I would do some more in-depth tutorials on fibonacci levels (technical analysis, history, philosophy), it's a very interesting topic to discuss, let me know in comments if interested?
Trade Safe
MORPHEUS