DOGE - insane 83% drop, here is why!
- Doge pumped a lot, but it looks like a scam pump to me. There are no buyers at all. I think this uptrend was fueled by stop-loss triggers and liquidations on the futures market.
- At this moment, the uptrend looks like a major ABC correction. Clearly, we can see a three-wave structure. Also, the bulls failed to hold the wave A swing high at 0.089, which is a sign of weakness.
- Why would anyone want to buy DOGE at this moment? I don't see any bullish patterns. Better open a short position on futures , but look for setups on lower timeframes. This analysis is on the weekly chart.
- No worries, you can buy DOGE at the 0.618 FIB for quick gains. That's exactly what my plan is for DOGE!
- On the chart you can see a projection for a parallel channel . This channel is amazing, because you can buy at the bottom of the channel for quick gains.
- A 83% drop is possible, and I will not be surprised if we go even lower. This mini-uptrend is not healthy.
- On the chart, you can see three strong supports: 0.618 FIB, POC1, and POC2. This is incredible because there will be a lot of money to be made at these levels!
- Let's be honest; everyone bought DOGE because of that pump, and now everyone is trapped. Sell DOGE while the price is high, it's not too late.
- If something pumps in one week and then dumps back, then it's obviously a fake move, and it will be punished by a massive crash.
- Can DOGE drop by 83%? Let me know in the comment section right now!
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