The market appears to respect the 23.6% Fibonacci level. Technical analysis reveal that DOGE/BTC has rallied to as high as 0.00000072 on April 19. The price movement appears to be the A-wave of an ABC corrective pattern. As 0.0000007 is a firm resistance as well as the 61.8% Fibonacci level, the pair pulled back to 0.00000049 on May 11. At this point, however, it looks like the market is respecting support of 0.0000005 while carving a bullish higher low setup.
The strategy is to buy as close to 0.0000005 as possible. If bulls hold on to this level, they will attract more bottom fishers. This may ignite a C-wave rally that can take us to our target of 0.0000007.
The process may take less than a month.
This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative information .
The strategy is to buy as close to 0.0000005 as possible. If bulls hold on to this level, they will attract more bottom fishers. This may ignite a C-wave rally that can take us to our target of 0.0000007.
The process may take less than a month.
This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative information .