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DOGEBTC trade ideas

DOGEBTC (Dogecoin) – Coin of the WeekThis week’s coin is Dogecoin. Doge was created as a joke in December 2013 and is based on the popular “doge” Internet meme that features a Shiba Inu on its logo. The total market capitalization of the coin is 6,3 billion dollars and it has a 24h trading volume of 4,8 billion dollars. It is primarily used as a tipping system on Reddit and Twitter to reward the creation and sharing of quality content. Technically, we had a big up move at the end of January and then a sharp reversal that dropped the price nearly 80% from the top. After the reversal, Dogecoin is making a corrective structure that seems to give us a higher probability for one more down move. We have to watch carefully how the price develops between the resistance and support areas. If the price breaks the resistance area and closes strongly above it, we should expect the up move to continue to make new higher highs. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
1
Is it time to buy Dogecoin?This chart appears pretty self explanatory to me... if you're holding DOGE, now may be a good time to exchange it for BTC. If you're not holding DOGE, then you may be better off buying BTC. Note that the last time DOGE saw a spike of this magnitude was right before BTC began it's parabolic expansion to the 2017 ATH. Some might argue that it looks like BTC is closer to the action around the 2017 ATH but let's take a closer look: - The last spike of this magnitude in the DOGEBTC pair came after a prolonged descent, followed by exponential rise in BTC. - A second spike came right after BTC's ATH. Perhaps DOGE is the canary in the coal mine... - 2017 alt season began around the same time that DOGE peaked. - Relative to BTC, DOGE has consistently lost value over time. It has no cap on distributions so the supply is constantly increasing, which means the value has no reason to go up over time. We can see that it always falls back to around 20 satoshi; several times over the last several years. That said, volume on the pair is nowhere near where it was at the last big spike. This could be an indication that volume has yet to reach it's peak but I'm skeptical that this volume measurement doesn't include all market activities. In any case, the value of DOGE and the light volume make it ripe for pump-and-dump. It seems to me the only thing it has going for it is Elon's tweets. Who knows? In the current market environment, that may be enough to keep the momentum going... BTC has had a great run and will likely run some more. It has a solid foundation with lots of support. DOGE has a stated utility but I don't see it actually being used in the real world. Maybe I'm not looking in the right place... This recent movement indicates to me that interest in crypto is rising, which is a good thing. However, there are far more interesting projects to invest in and perhaps alt season is just beginning.
by quickshoe
DOGE/BTC / 30min / Support holdingThis is not financial advice, this is just my perspective. Doge seems to be holding the 0.50 fib retracement from the current trend, been tested twice, on same level as a older support/resistance, 20 MA seems to be supporting the trend Stoch RSI is also extremely oversold on the 30min chart Could also say a wedge is forming and could be the retracement before a next move (related to my previous idea) I would say if it falls below the .50 fib (.00000122) level we could speak of a new downtrend. Let me know what you think. Don't forget to follow if you would like to see more alt coin charts in the future. Bless you all.
by Crypto_Jay
DOGE BTC levels to watch Hi everyone, today i would like to present you with my analysis of Doge BTC, as you can see we broke thru previous resistance at 50% fib and positively retested it, which means we are going higher, but with that in mind, i would like to point that we may see resistance at 127.2 and 161.8 fib where pullback my occure. From 127.2 we may see retest of 88.6 and from 161.8 i would price expect to retest 100%. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
Long
by Coder775
When Doge Peaks; It crashes: And takes the Crypto market with itBack in 2019 I posted a chart on the Doge/BTC pair pointing out that the Doge to BTC ratio was a lifetime historical support and that it would likely pump to atleast the top of the range so long as our support wasn't broken and so long as we could break a midterm downtrend pivoting from support : Today i must say i'm quite happy with the result but now it's looking like the party is over and one thing i have realized overtime is that when Doge pumps to the top of the range it typically just goes right back down to the bottom and has often been an early indicator of an overall shift in the crypto market cycle. We may see crypto enter a Mid to long term bear market very soon. However, if in this bear market Doge can pivot and make a higher low this time around perhaps at the newly created 200 week Moving average then we may see Doge pump back to the top of the range and actually break above the resistance convincingly next time around.
Short
by RizeSenpai
3
DOGE with BTC pair formed Gartley for up to 201% bullish moveHi friend, hope you are well and welcome to the new update on Dogecoin. On the daily chart, the price action of Dogecoin with Bitcoin pair has completed a Gartley pattern and entered the potential reversal zone. There is a complete opened alligator's mouth formation by the simple moving averages below the buying zone. Possible profit and loss ratio: This trade has a huge profit possibility up to 201%, and the loss possibility is only 35.5%. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Long
by moon333
3