DOGE Wait for the level from which the price can do +60% or -30%

24 авг. 2021 г.

Here is the analysis of DOGEUSDT trading pair, which was voted for in the "Bitcoin Weekend #17" idea

By the way, in "Bitcoin Weekend #17" we wrote that when the value of BTCUSDT starts to enter the liquidity zones of $48000-50900 and $50900-54200 you should be extremely careful with your positions, because the trend can reverse.

Keeping these facts in mind, let's analyze the DOGEUSD.
Let's start with the fact that our previous idea, the DOGEUSDT, is little more than a month old, and it worked perfectly and accurately at almost x2 growth.

Now let's look at the chart of the DOGEUSDT pair more globally.
As you can see, the price of DOGE has been consolidating between two levels: $0.34 at the top and $0.29 at the bottom for the last week.

In the current realities, we assume that the price of DOGE may go down one more time to see if the buyers are really ready to aggressively pull back from the level of $0.28888. If that happens, and we see strong buying volumes, that's a sure long. Also, a breakout and fixation of the price above $0.34 is also a strong long buy. For both situations, upper target is around $0.444-0.464.

If the price fixes lower than $0.2888, it will not bring anything good for the deposit, except the possible drawdown of -30%.

So be flexible and maneuverable and keep your hand on the pulse of the market. Watch the behavior of the price DOGEUSDT around the level of $0.2888 and trade behind the trend and there will be happiness to your deposit and you)
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