Dogecoin is rapidly moving in a wave 3.
Look to go long with this crypto.
Entry closer to mean around .0040.
Target at 2.618 fib around .011
Stop below monthly pivot of .0020.
Risk Reward is 3+ :)
It seems DOGE is trying make a good effort on it's daily strong resistance (0.00369257). MACD is completely bullish in daily time frame and if today's candle breaks 0.00369257 opening a long position would be a smart choice.
Weekly resistance (0.00346872) is already broken but it would be trust able when this week candle closed, so for now today's candle can be a...
Once this breaks this resistance and establishes it as new support it will blast off to the moon :D
and the pump against btc will start then ( i hope)
much analysis many profits
~~to the moon ~~
BITTREX:DOGEUSD
In our previous analysis, our demand zone was between 0.00000025- 0.00000016, price took support and bounced back 50%
Our current view : it is testing the support. If support holds, it will move $0.0030 in no time.
1) Always trade with Sl.
2) Place your sl based on the risk appetite.
3) Price may hit a particular target and reverse, so...
Doge has been looking interesting. I believe a bullish divergence has been forming on DOGE/BTC on the daily candles. Meanwhile, a gigantic spike in volume was seen on one exchange.
Would be nice to see a pennant develop over the next few day candles which in my opinion would could be quite a bullish pattern.
DOGE has been in a significant downtrend and is potentially looking to breakout to the upside.
We have to be aware that this is a counter-trend trade being in a downtrend, however, since we are keeping our stop loss tight it is worth the risk for a high probability trade.
Up to you to decide whether you wait for confirmation of the breakout before entering or...
