TIME TO SHORT DOGE? ARE MEME COIN "INVESTMENTS" FOR REAL!?
DOGE chart's looking a bit different from other cryptos.
Still maintaining top 5 crypto market cap, sell-offs are expected esp with this recent rally, chance at rejection at this level.
Perfect rejection at the 200MA, while shorter-term Moving Averages are still under the 200MA.
Most other high market cap cryptos are in the green today except for DOGE, if market sells-off I could see DOGE having a larger move to the downside.
Shorts at $0.42 (200ma) are already eating good right now, if $0.38 price level maintains as indicators cool off then probability of a move to the upside increases.
Not financial advice, good luck trading.
Still maintaining top 5 crypto market cap, sell-offs are expected esp with this recent rally, chance at rejection at this level.
Perfect rejection at the 200MA, while shorter-term Moving Averages are still under the 200MA.
Most other high market cap cryptos are in the green today except for DOGE, if market sells-off I could see DOGE having a larger move to the downside.
Shorts at $0.42 (200ma) are already eating good right now, if $0.38 price level maintains as indicators cool off then probability of a move to the upside increases.
Not financial advice, good luck trading.
Trade active:
Right shoulder respected perfectly so far, with 2 hard rejections post-publishing this idea.
Shorts still eating good.
Most profits taken off the table already, especially a big chunk at the $0.30 price level. Letting the rest ride out for now. Will either add to or close current position depending on upcoming confirmation bias.
Although I could see another move down, having the H&S patter play out, I could also see a test up first if BTC decides to test the 38k/42k price range before continuing downward, which would probably cause alts to do the same.
And on the other side, If BTC holds those respective price levels and breaks above then well the entire alt market will probably follow suit with it. Big few weeks ahead.
Shorts still eating good.
Most profits taken off the table already, especially a big chunk at the $0.30 price level. Letting the rest ride out for now. Will either add to or close current position depending on upcoming confirmation bias.
Although I could see another move down, having the H&S patter play out, I could also see a test up first if BTC decides to test the 38k/42k price range before continuing downward, which would probably cause alts to do the same.
And on the other side, If BTC holds those respective price levels and breaks above then well the entire alt market will probably follow suit with it. Big few weeks ahead.