DOGE appears to have completed a long ABC corrective move that began following the impulse move up in October 2022 . It has moved higher as confirmation and broken several important resistance levels . I do not apply any fundamental analysis whatsoever to cryptos as none of them can be fundamentally valued imo . This is why i believe any coin can be worth any value based solely on perceived demand . This trade is based solely on TA . Doge looks more bullish than most of the crypto sector right now . Price targets are on the charts .
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Doge touched the support level i had drawn on the chart above exactly @ .0759 and as long as we hold there i can see it moving higher . My Dog is in a far better technical position than BTC here . In fact one of the best technical positions of all the main cryptos . People need to realize that crypto are gambling tokens , nothing more , as they cannot be fundamentally valued . The notion that bitcoin should be worth 30k+ and a coin like doge should be worth < a buck is ludicrous . In the wild west of cryptos any coin can be worth any value . BTC can be 1000 and doge can be 300 if the TA and demand (or lack of) take them there .
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My dog is back at his main support level again . As long as my boy holds this level I will remain bullish
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My dog asked me to give him a little more leash down to the next support level . I agreed on one condition . That if he doesnt start being a good dog soon he will be going back to the pet store .
Trade closed manually:
Trade closed . Dog pissed me off so i dropped him off at the pound . BAD DOG !
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My boy seems to be shaping up . Think he deserves another change since he is back at my original support level from the idea above . Throwing a couple biscuits his way here . Let's see if he learned his lesson .