DOGE - Closing in on the Cup and Handle
Diupdate
Hey traders! I've been back on the market for a couple of weeks after the "cool down" late Jan/early Feb, and I'm excited to share my thoughts again with you! Today, I want to take a little look at DOGE!
DOGE has shown its worth multiple times over the past years. Like many Alts, it had a good run last december when BTC was going for 20k, has corrected and is now back on the move. It had its first peek a couple of days ago, finishing a beautiful cup. After a retracement back to the 0.5 fib, it has the perfect chance of performing a handle to finish our Cup&Handle. This gives us a great buy opportunity!
Possible signals:
- Cup&Handle formation
- MA9 and MA20 cross on the 4h as seen in the chart
- Triangle is closing in
- MACD has bottomed out on the 4h chart and is ready to go
Buy-In:
Now (58/59)
Targets:
1) 65 (this one can be skipped for a greater R:R)
2) 72 (former High)
3) 81
4) Moon
Stop/Loss:
52
I'm excited for this one and keep you updated!
DOGE has shown its worth multiple times over the past years. Like many Alts, it had a good run last december when BTC was going for 20k, has corrected and is now back on the move. It had its first peek a couple of days ago, finishing a beautiful cup. After a retracement back to the 0.5 fib, it has the perfect chance of performing a handle to finish our Cup&Handle. This gives us a great buy opportunity!
Possible signals:
- Cup&Handle formation
- MA9 and MA20 cross on the 4h as seen in the chart
- Triangle is closing in
- MACD has bottomed out on the 4h chart and is ready to go
Buy-In:
Now (58/59)
Targets:
1) 65 (this one can be skipped for a greater R:R)
2) 72 (former High)
3) 81
4) Moon
Stop/Loss:
52
I'm excited for this one and keep you updated!
Catatan
Quick update on this one: DOGE failed its attempt to break out of the triangle and fell a little back due to Bitcoins gains. As long as we stay above 53 (0.382 fib), we are good to go for a second try once the dust around BTC has settled! If it falls below, our S/L should protect us from further damage; we should aim for a rebuy around 45 sat! Keep in mind that as long as BTC is moving, we are still in the uncertainty of what might happen next! Good luck to everybody, I'm still confident to see a move within May!
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