Hello everyone, I am coming with an idea on DOGEUSDT pair (1h time frame) for the 1st time. I will be focusing more on the TA rather than anything else. People have their own opinions about DOGE but for me it has 2 possible scenarios. In my opinion, profits are made and still you can make some more.
First Scenario- Most likely to happen, Tripple bottom, I like what I see also in the RSI and many other indicators that DOGE tested support 3 times and did not break under that area. It looks as it is gaining strength in volume, so I expect an up move very soon. The breakout price for me is at least around 0.52-0.53$, and first TP is 0.58$ and then testing the other resistances. But in general it needs to break the line (R in the chart) and stay up there to call it a breakout for a trend reversal.
Second Scenario- There might be a scenario in which the price might circulate between the 0.45$ to 0.50$ for a while or even break the support line and soon after that trying to go up again after breaking down. It depends on the whole market and the news that might come. But if you want to have a SL, under 0.40$ will be a good place to put the SL. Trade with patience and be careful. This is my idea and I am not financial advisor. I see it quite bullish for the moment and it may gain huge momentum in a few days. Still be careful, trade with caution. If you have any comment, you are welcome. :)
First Scenario- Most likely to happen, Tripple bottom, I like what I see also in the RSI and many other indicators that DOGE tested support 3 times and did not break under that area. It looks as it is gaining strength in volume, so I expect an up move very soon. The breakout price for me is at least around 0.52-0.53$, and first TP is 0.58$ and then testing the other resistances. But in general it needs to break the line (R in the chart) and stay up there to call it a breakout for a trend reversal.
Second Scenario- There might be a scenario in which the price might circulate between the 0.45$ to 0.50$ for a while or even break the support line and soon after that trying to go up again after breaking down. It depends on the whole market and the news that might come. But if you want to have a SL, under 0.40$ will be a good place to put the SL. Trade with patience and be careful. This is my idea and I am not financial advisor. I see it quite bullish for the moment and it may gain huge momentum in a few days. Still be careful, trade with caution. If you have any comment, you are welcome. :)