DOGE - Extremely bearish pattern, buy/long here!
- Doge looks very bearish, but this coin is definitely stronger than others. In this analysis, I will tell you where to buy DOGE for a short-term trade!
- Doge is not going anywhere; this coin will survive even the most hard-core crash, together with Litecoin and Monero. These first-generation altcoins are solid.
- Unfortunately, the chart is printing a descending triangle, which is not bullish. There is a lot of liquidity below the triangle, so the market wants all orders.
- I am buying doge exactly at 0.06112 for a short-term profit. I will trade it on the futures market, of course, but you can do it on the spot market as well. Don't forget to set your orders!
- From the Elliott Wave perspective, the previous uptrend looks like a 3-wave ABC corrective structure. Not the best sign.
- I remember before everyone was buying DOGE like crazy, and now everyone is at a loss. The crypto winter is real; nothing is bullish pretty much. The only way to make money is to trade futures.
- I post trade setups privately. This analysis is not a trade setup; there is no stop-loss, profit target, expected duration of the trade, risk-to-reward ratio, or timing.
- Why buy doge at 0.06112? because it's the last high-volume node on the volume profile and also because we have an ascending trendline, which should work well together. What's more it's the start of the massive gap.
- The 200-day moving average has been tested three times, and it's just too much. It looks like buyers are running out of steam.
- There are 2 most likely scenarios. The first is that we will spend more time in this triangle. The second is that we will breakdown very soon.
- Thank you!
