DOGE has been in a significant downtrend and is potentially looking to breakout to the upside.
We have to be aware that this is a counter-trend trade being in a downtrend, however, since we are keeping our stop loss tight it is worth the risk for a high probability trade.
Up to you to decide whether you wait for confirmation of the breakout before entering or you enter at current prices at a reduced risk.
2 Targets (T1 and T2)
R:R 3.5:1
Sean Vengan Professional Trader and Trading Educator
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Kommentar
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If you are not in my DOGEUSD call you may want to consider it...
Doge is dead, better invest long term with crypto with actual use case
Benjamix
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@Debian1177, Dogecoin will never die.. It's community is like a bunch of cyber hippies.. They keep it alive to throw pie in the face of over marketed crap coins.. It will always be the first to do so..
kshnandi
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Hi Sean!
Couldn't find a way to buy Doge via USD, so had a look at the Doge/Btc chart and your observation is quite right. It does seem to have hit the rock bottom, and in each of the previous instances, it had shot up for a while. However, I did see that the market depth is highly skewed against the favor of it rising. My question to you is, How much does market depth matter for trading? Also, thanks a ton for all your analysis.
Akash