End of the week, lets take a look at DOGE and its up coming potential outlooks.
Purely looking at it from a technical point of view, the current price has broken above previous ATH level impulsively, and its forming continuation correction currently.
One way to look at this would be waiting for a this correction finished, and look for LTF breakout and correction to get in the next impulse up.
On the other hand, certainly price doesn't have to break above, instead drop below the previous highs, and formed bearish continuation correction to push to price all the way back to the previous lows.
All joke aside, I am leaning more towards a bullish bias and outlook. Will see how the market development next few days.
Remember, there's a different between trading a crypto with or without leverage, vs investing (holding) crypto. Different trading plan, risk management, trading psychology to consider.
Did you see the recent tweek of Mr. Elon Mush about Dogecoin. Where he is filling other people feed with memes where he is in a whole internet world full of memes.
Does it look supportive or confusing?
There is a big role of Mr. Elon Mush in the movement of Dogecoin's price. What is your point of view after this tweet.
Price is already high, can this SNL play a role in taking it futher up?
BTW, I do spot trading occasionally and I don't have much funds in Doge either because of its uncertain price actions. Maybe I am missing some profits, but I like to play safe.
jojofang0901
⋅
@HammadHNiazi I mean.. anything can happen in the market of course. Whether it’s from a fundamental or technical perspective. I personally really don’t pay too much attention on social media so I wouldn’t know about the tweets or anything news related stuff. Here on TV I simply point out the possibility of the price from strictly technical, price action point of view. I been hearing about the SNL, I duno how big of an influence that would be on the price, but if it creates volatility, then it might be exactly what the coin needs to move either direction. We will have to wait and see :)
ibtrd
⋅
@jojofang0901 who watches SNL? people will watch it for Elon...SNL wins more than anything.
Ha-Lion
⋅
Agreed on Bullish move. since DOGE is below $1, more people can afford to buy and it became more attractive to small investors.
jojofang0901
⋅
@Ha-Lion let’s see if you are right next few days :)
Rapten
⋅
@Ha-Lion, I can't tell if this is a joke or for real. You do realize you can invest any amount of money into any crypto currency regardless of price.....
crestedacres
⋅
@Rapten HA! Your point is perfectly accurate, but if joe investor has $500 and can purchase 800 DOGE or 0.009 Bitcoin... which makes him feel better? Add the underdog factor (and the pun value) and this dog will hunt. 👍🏻
shahabs2004
⋅
I do not trust this currency, it was a joke🤔
I hope no one is harmed
jojofang0901
⋅
@shahabs2004 all good my frd. :) all speculation after all
Does it look supportive or confusing?
There is a big role of Mr. Elon Mush in the movement of Dogecoin's price. What is your point of view after this tweet.
Price is already high, can this SNL play a role in taking it futher up?
BTW, I do spot trading occasionally and I don't have much funds in Doge either because of its uncertain price actions. Maybe I am missing some profits, but I like to play safe.