Time to accumulate Doge before the next breakout?
Updated
I see a convergence of bullish factors.
I've been accumulating under the .5 percent levels with limit orders on Robinhood (with no commission fees). My hope is a similar breakout, previous went from .0036 to .0140, so the target would be around .02. While history doesn't repeat it does rhyme, a similar breakout happened early July this year which follows a similar pattern to the latest breakout.
- Longer time frame uptrend
- Healthy pull back into consolidation, where it's been range bound within fib retracement levels
- Price has defended the 61.8% level, multiple times
- Daily chart energy is recharged
- Weekly energy building back up out of it's current exhaustion
I've been accumulating under the .5 percent levels with limit orders on Robinhood (with no commission fees). My hope is a similar breakout, previous went from .0036 to .0140, so the target would be around .02. While history doesn't repeat it does rhyme, a similar breakout happened early July this year which follows a similar pattern to the latest breakout.
Trade closed: target reached
If you had the conviction to accumulate during this time, especially when it approached near the 61.8%, you'd be sitting on a nice profit. It's hit beyond .02 and might be worth peeling off some profits as it consolidates agains. I would be cautious as the price rises above .02 especially since daily and weekly energy are in total exhaustion.
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