ThinkAboutIt75

DOGE/EUR Analysis

Long
BINANCE:DOGEEUR   Dogecoin / Euro
The Doge returned to the ascending channel as planned. In fact, we can see similarities between the past explosion of April 2021 (green zone). The Doge exploded, was corrected and retested the highest point, then returned to the initial ascending channel to develop more slowly. On May 4, the Doge exploded a second time and made the same movement (small correction, retest of the highest point and fall towards the channel). If we follow the same dynamic, the Doge should reach the highest point in the ascending channel to eventually break the resistance of 0.55 and explode again.
The following analysis is a personal idea of the Doge/ Euro graphic. This idea needs to be completed by your own expectations and cannot be a reason to take any future position.

Good luck for your investment!

Comments

I made the same analogy. You could add that loads of addresses owning small amounts have shorted, giving opportunities to more serious invtestors to buy dips, and cleaning the house from 1 night stand investors who are more subject to emotional decisions.
That means that we have a stronger base and therefore, a better resistance. It should take a couple weeks to get over the impact of both SNL and yesterday's Gensler SEC comments, and get back to the ascending curve.
I am not encouraging anyone to invest or take a position, just sharing my own projections.
+2 Reply