Dogecoinusd
⚠️DogeCoin Another Rocket Might Be Launched ⚠️💡 Trade Idea
📈 EOS/USDT Buy Limit Order @ 6.1704
🎯 Target Profit 6.7695
🛑 Stop Loss 5.9763
❌ Do not risk more than 1% of your account on each trade
🙂 Good Luck!
Description:
The price succeeded to break the bullish flag to the upside and now the market is trading above the 6.1340 USDT mark. We expect a lower correction to this level and then a rally toward our mentioned target profit.
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DOGE on threshold for 48% rally amid Elon Musk aggressive pump
Dogecoin breaks above a symmetrical triangle pattern and readies for liftoff to $0.4.
Elon Musk becomes the official “Dogefather” ahead of the Saturday Night show.
The immediate support at $0.30 should be defended; otherwise, a correction may occur toward $0.15.
Dogecoin led the price action in the cryptocurrency market on Wednesday, breaking away from the slugging crypto assets. The majestic price action happened in the wake of a tweet sent by Elon Musk, the founder of Tesla. DOGE spiked by more than 20%, hitting $0.35 for the first time in more than a week.
Musk said that he would be the “Dogefather” as he hosts the Saturday Night Show. The billionaire has an undying love for the meme coin, which has rallied extensively since the beginning of the year. Besides, it has become common to expect a tweet regarding Dogecoin from Musk, who once said that he would put a literal Doge on the moon.
Dogecoin sets out for the technical breakout
At the time of writing, Dogecoin trades at $0.32 while bulls look forward to levels above $0.35 and $0.4, respectively. Besides Musk’s pumping, Dogecoin also broke out of a symmetrical triangle, as illustrated on the four-hour chart. This pattern has both bullish and bearish biases.
However, when the price slice through the upper trendline, just like Dogecoin, a breakout is anticipated. A spike in trading volume confirms the breakout, which has a precise target, measured from the highest to the lowest points.
It is worth noting that the Moving Average Convergence Divergence (MACD) affirms the uptrend. As the indicator crossed into the positive region, it became apparent that buyers had taken control. In addition, the MACD line holds above the signal line, thus cementing the bulls’ influence.
Dogecoin intraday levels
Spot rate: $0.32
Trend: Sideways
Volatility: Low
Support: $0.3, the 50 SMA, and $0.25
Resistance: $0.35 and $0.4
DOGE Terminal wave higher into wave III 🐶On the hourly time frame, we remain bullish and favoring this current breakout on the DOGE before a completed 5-wave impulse. Immediate wave (iii) upside targeting the wave iii and also completing a minor degree impulsive 5 waves structure.
Looking to book profits on our existing long on DOGE/USDT before the consolidation sets in that might take months
Ascending Triangles For DegeneratesDoge to the moon? According to the 4 hour chart, it is possible.
As we can see from the chart, Doge broke down after reaching all time highs in the .40 cent range.
After correction, it found support around the .20 cent range.
Shortly after, it came back up to test the .27 cent resistance and is currently creating an ascending triangle.
If doge breaks the .28 cent range, I believe it can continue back to .35 cents with relative ease.
CAUTION: This is not financial advise. Use your own best judgement when making trades. (Don't lose all your money playing with a meme coin)
Dogecoin Analysis - EXPECTED TO FALL TO 0.09 BEFORE THE BIG RISETechnical Analysis
1. Forming a Large Pennant/Flag
2. Fibonacci Retracement Possibly at 0.786 (Silver Zone) Although it's in the "Silver Zone" I perceive the market to fall further because of BITCOIN which will more likely fall to AT LEAST 40,000 USD
3. 1st Safe Take Profit at Fibonacci Expansion Level 1 (Grey Zone) also at Flagpole length
4. RSI expected to reach oversold levels
Entry: 0.091
Take Profit: 0.54
EXPECTED Take Profit in August - September from the entry of 0.091