Update
My last update on DOGE Coin was that I could long so long as support came into the market - and the demarcation point for this support would the lower cost basis line as indicated on the chart.
I also suggested that Doge's price would 'float' down to this lower level as I did not see spikes in realised losses. This price decline would be primarily driven by a lack of buying pressure, and driven from the dilution effect which is a constant feature of Doge.
Suggestions
We are we now at the point of potential longs! Note: the market average cost basis for Doge coin is about $0.02 Being long requires stop loss discipline as there is no fundamental value per se for this (virtual) asset - it's matter of cost basis vs perception.
I would be more keen to long if I saw volume pickup at this current price areas, or I see further evidence of 'crypto' hype - the tweet effect!
Next Steps
If we see any rallies, I will be noting if large profit taking occurs or if short covering is the core feature. This will be a driver of long exits and opening shorts.
My last update on DOGE Coin was that I could long so long as support came into the market - and the demarcation point for this support would the lower cost basis line as indicated on the chart.
I also suggested that Doge's price would 'float' down to this lower level as I did not see spikes in realised losses. This price decline would be primarily driven by a lack of buying pressure, and driven from the dilution effect which is a constant feature of Doge.
Suggestions
We are we now at the point of potential longs! Note: the market average cost basis for Doge coin is about $0.02 Being long requires stop loss discipline as there is no fundamental value per se for this (virtual) asset - it's matter of cost basis vs perception.
I would be more keen to long if I saw volume pickup at this current price areas, or I see further evidence of 'crypto' hype - the tweet effect!
Next Steps
If we see any rallies, I will be noting if large profit taking occurs or if short covering is the core feature. This will be a driver of long exits and opening shorts.
