Hey all, DogeBtC now is situated into a bullish pennant which can lead Doge for a massive breakout.This is a powerfull continuation pattern.You can entry on this trade ONLY after a succesfully breakout from this channel and a succesfully RETEST of the upper line. The possible target is 1180 sats and 1600
Personally i will not enter in this trade because in my opinion Doge it s too overvalued and the BTC dominance when will increase doge will plummet hard After a succesfully breakout i will short this coin ,keep your eyes on this coin. If the breakout and retest will happen ,this coin will take the first target
Tehnically: -The pennant is a bullish pattern -Macd sell volume slowing down which is a bull signal -stochastic bullish -rsi situated into a falling wedge which is bullish
Bear signal -BTCUSD Long positions it s too high(check my previous TA on BTC) -BTC dominance RsI on weekly too low
Personal strategy:I m waiting the breakout and after i will short doge
Trade active
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First target hit. Still wait for a short entry. Be patient
What signals are you looking at to decide to enter the short?