R.ACEACEACE #DOGE #DOGECOIN #DOGEUSD $0.16 BREAKOUT. $14 in 2021
Let's begin with the lower timeframe update:
Doge had an insane run up. It's only reasonable for it to go thru a correction. I don't believe it is the end of the world.
On the Gann Fan drawn from the pivot high, the price has made it above the red 2/1 line and is trying to find support. It may dip back below the red 2/1 and make another attempt to come back above later.
Typically, in my opinion especially, on a Gann Fan drawn from the pivot high, once the price moves above the red 2/1 line, it becomes less bearish and starts to show more bullish signs. As it moves toward the 3/1 and 4/1 lines it gains more bullish tendencies and by this point typically moves to the 8/1 line - which I have circled in green.
Once at the 8/1 line, the price typically breaks out and moves to a new high or fails and dumps back down. The 8/1 line is the area to watch for a breakout or a rejection. Please note that false breakouts tend to happen at the 8/1.
A breakout past the 8/1 line would likely result in a retest of the pivot high which is now resistance @ $0.0736. If it moves above that, which I believe it would, the price would likely continue to $0.016.
Please understand that good support is at $0.066 and the price can always head back down there without a test of resistance.
I do not margin trade dogecoin. I am holding doge spot and have added to my bags more than once on correction.
I accept complete loss on all of my trading decisions because it allows me to follow thru with my plan without fear.
For the noobs, please understand that Bitcoin tends to drage the entire crpyto market up or down, including the DOGECOIN market. Watch Bitcoin for strength or weakness. When Bitcoin is strong or balanced, alt coins tend to perform bullish moves, and the opposite when Bitcoin looks like dog poop. I have attached a link to my BTC long trade idea below.
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Let's continue to the larger timeframe - this year - update:
Personally, I am bullish on BItcoin and the entire cryptocurrency market, and I am extremely bullish on DOGE and believe it will outperform most, if not all coins.
The dollar is dumping and crypto adoption is growing: you can read the news to find out about that.
I believe Dogecoin is following a path similar to that of ETH between 2016 and 2017. I expect DOGE to reach $14 in 2021.
If you have been in crypto since 2017 or earlier, you know how hot bull runs can get.
Now is not the time to be afraid. I believe it is best to hold an amount of doge that I am willing to accept complete loss on.
The reward is too high to listen to all of the noise and short-term fluctuations.
I have always gone against the popular Crypto Twitter O.G's and I am almost always correct when it comes to my trade ideas.
As I said, I accept complete loss on every trade that I take. I limit my risk and follow thru with my plan.
Many traders do win trades, but their wins are too insignificant compared to what they could have been had they just lowered their risk and not listened to all of the noise on Twitter.
I am willing to bet that common sense will win. Bull run + Prices going up = Sky is the limit.
I have derived $14 as a take profit level for DOGECOIN by conducting my own analysis on it. It is not a randomly chosen numbers. None of the technical analysis I have done is based on nonsense numbers.
Precision and success are very important for me. I trade to do this stuff for real and make dough $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Key tips: limit your risk: don't ever risk more than you can completely afford to lose. There is no need to sweat or check the price every 10 minutes. It is a bull run. Everything will go up in cycles.
The Twitter crowd will always say they told you so no matter what.
Common sense prevails: bull run = up only for the good coins.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
My trade ideas, including this one, are not financial advice. I am just expressing my opinion of what I see on MY charts. I am not a financial advisor. Registered financial advisors in your country are the ones you could seek financial advice from - not from me.
Please do your own analysis, responsibly manage your risk, and stay safe.
THANKS FOR HITTING THE LIKE BUTTON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Doge had an insane run up. It's only reasonable for it to go thru a correction. I don't believe it is the end of the world.
On the Gann Fan drawn from the pivot high, the price has made it above the red 2/1 line and is trying to find support. It may dip back below the red 2/1 and make another attempt to come back above later.
Typically, in my opinion especially, on a Gann Fan drawn from the pivot high, once the price moves above the red 2/1 line, it becomes less bearish and starts to show more bullish signs. As it moves toward the 3/1 and 4/1 lines it gains more bullish tendencies and by this point typically moves to the 8/1 line - which I have circled in green.
Once at the 8/1 line, the price typically breaks out and moves to a new high or fails and dumps back down. The 8/1 line is the area to watch for a breakout or a rejection. Please note that false breakouts tend to happen at the 8/1.
A breakout past the 8/1 line would likely result in a retest of the pivot high which is now resistance @ $0.0736. If it moves above that, which I believe it would, the price would likely continue to $0.016.
Please understand that good support is at $0.066 and the price can always head back down there without a test of resistance.
I do not margin trade dogecoin. I am holding doge spot and have added to my bags more than once on correction.
I accept complete loss on all of my trading decisions because it allows me to follow thru with my plan without fear.
For the noobs, please understand that Bitcoin tends to drage the entire crpyto market up or down, including the DOGECOIN market. Watch Bitcoin for strength or weakness. When Bitcoin is strong or balanced, alt coins tend to perform bullish moves, and the opposite when Bitcoin looks like dog poop. I have attached a link to my BTC long trade idea below.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Let's continue to the larger timeframe - this year - update:
Personally, I am bullish on BItcoin and the entire cryptocurrency market, and I am extremely bullish on DOGE and believe it will outperform most, if not all coins.
The dollar is dumping and crypto adoption is growing: you can read the news to find out about that.
I believe Dogecoin is following a path similar to that of ETH between 2016 and 2017. I expect DOGE to reach $14 in 2021.
If you have been in crypto since 2017 or earlier, you know how hot bull runs can get.
Now is not the time to be afraid. I believe it is best to hold an amount of doge that I am willing to accept complete loss on.
The reward is too high to listen to all of the noise and short-term fluctuations.
I have always gone against the popular Crypto Twitter O.G's and I am almost always correct when it comes to my trade ideas.
As I said, I accept complete loss on every trade that I take. I limit my risk and follow thru with my plan.
Many traders do win trades, but their wins are too insignificant compared to what they could have been had they just lowered their risk and not listened to all of the noise on Twitter.
I am willing to bet that common sense will win. Bull run + Prices going up = Sky is the limit.
I have derived $14 as a take profit level for DOGECOIN by conducting my own analysis on it. It is not a randomly chosen numbers. None of the technical analysis I have done is based on nonsense numbers.
Precision and success are very important for me. I trade to do this stuff for real and make dough $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Key tips: limit your risk: don't ever risk more than you can completely afford to lose. There is no need to sweat or check the price every 10 minutes. It is a bull run. Everything will go up in cycles.
The Twitter crowd will always say they told you so no matter what.
Common sense prevails: bull run = up only for the good coins.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
My trade ideas, including this one, are not financial advice. I am just expressing my opinion of what I see on MY charts. I am not a financial advisor. Registered financial advisors in your country are the ones you could seek financial advice from - not from me.
Please do your own analysis, responsibly manage your risk, and stay safe.
THANKS FOR HITTING THE LIKE BUTTON!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Trade active:
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Comment:
Comment:
As of now, the price would test the 8/1 Gann fan line - circled in green - @ $0.0384. If the price does test the 8/1 Gann fan line it could break out or reject. A false breakout and rejection is also possible at the 8/1 Gann Fan line. BTC has been showing a little more strength today. Stronger BTC price would be helpful to DOGE. Stay safe.
Comment:
Price has broken out of the 8/1 Gann Fan line. Please see my latest DOGECOIN trade ideas for updates. Currently:
Price has broken out of the 8/1 Gann Fan line. Please see my latest DOGECOIN trade ideas for updates. Currently:
Do you like my analysis? Do you want to stop paying for stop losses and make money? Come trade with me in my private Discord group with this link discord.gg/q5Q7GzVD3h - Send me a DM to start.
