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...
