DOGE breakout to re-flip SHIBA
Relatively new to technical analysis and probably don't do stuff by the book. That said, here's my take on the Dogecoin situation.
Not really a fan of meme coins without function, but if there's money to make, you know I will take a slice of it.
Looking at the daily chart, Dogecoin has been on a down trend for months. Finally looking to break out and my price levels has been set. I don't expect it to be a fast ride, but rather a steady, reasonably retest on ATH. If the breakout is complete between December and January, I suspect it will speed to ATH and challenge SHIBA to retake the place as the number one meme coin.
I have a patient stop loss in case of a breakout fail at 0.205, just below the support level. At this point Doge will join Bad Luck Brian in meme heaven.
If Doge continues with the upward trend I will take some profits at 0.350 as we continue to challenge ATH.
What do you think? Any comments appreciated.
All good!
Not really a fan of meme coins without function, but if there's money to make, you know I will take a slice of it.
Looking at the daily chart, Dogecoin has been on a down trend for months. Finally looking to break out and my price levels has been set. I don't expect it to be a fast ride, but rather a steady, reasonably retest on ATH. If the breakout is complete between December and January, I suspect it will speed to ATH and challenge SHIBA to retake the place as the number one meme coin.
I have a patient stop loss in case of a breakout fail at 0.205, just below the support level. At this point Doge will join Bad Luck Brian in meme heaven.
If Doge continues with the upward trend I will take some profits at 0.350 as we continue to challenge ATH.
What do you think? Any comments appreciated.
All good!
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