Dogecoin
DOGE Analysis, LONGNew analysis as the wick has been rejected by the major resistance line. As it goes down all eyes on the major base and support line. The RSI also indicated big breakout potential.
This analysis will be invalidated if:
It breaks resistance before it goes back to support line (buy after the retest)
It breaks below the support line (another analysis)
Bitcoin's Weekly Chart: FVG Filled, Eyes Set on Further Growth By analyzing the #Bitcoin chart on the weekly timeframe, we observe that after 2 months, this cryptocurrency finally experienced a drop to fill its old FVG. Interestingly, after this FVG was filled, the price managed to rise by 10%, from $53,500 to $58,300! Currently, Bitcoin is trading around $57,200, and if it can hold above the support level of $50,500 to $53,500, we can expect further growth in the price. Other assumptions from the previous analysis remain valid.
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Best Regards , Arman Shaban
DOGEUSD Dogecoin Bullish Money heist planMy Dear Robbers / Traders,
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Stop Loss : Recent Swing Low using 2h timeframe
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DOGE → Fall to $0.10! Are We Heading Back to $0.30? Let's AnswerSince my April 13th update, DOGE has fallen into a pullback, as expected. We found resistance at $0.225 and then pulled back in two strong legs. Should we be bearish or bullish on DOGE?
How do we trade this? 🤔
As expected, DOGE found resistance at the 2021 resistance area of below $0.29 after three strong pushes up followed by a head and shoulders reversal pattern on the Daily chart. That reversal pattern played out into a two-legged pullback, leaving us near the Weekly 200EMA support at around $0.10. I think we can expect to continue testing this support area for a while. I do not believe we will break and hold below $0.10.
I would not enter a long just yet. What we need now is two or three tests of the Weekly 200EMA support area around $0.10, forming a double-bottom or reverse head and shoulders pattern. A good strong bull signal candle followed by a confirmation candle is the signal we need to enter a long position, taking half profits at 1:1 Risk/Reward, moving the stop loss up to the entry price, then swinging the latter half of the position to 1:3 Risk/Reward.
We also need to watch Bitcoin's sentiment as the price action plays out. I expect Bitcoin will fall into a two-legged pullback to around $40,000-$45,000, which should take the alt market down with it, either keeping it in a trading range or bringing it to lower lows. Until Bitcoin's sentiment shows a clear bull signal after a likely pullback, it's one more indicator we should allow to play out before getting long in DOGE.
A final point of data is the RSI low and below the moving average of around 43.00, which could remain in this area for some time. This indicates we should be looking for long entries, but should wait for the price action to guide us.
💡 Trade Idea 💡
Long Entry: $0.10975
🟥 Stop Loss: $0.07210
✅ Take Profit #1: $0.14725
✅ Take Profit #2: $0.22275
⚖️ Risk/Reward Ratio: 1:3
🔑 Key Takeaways 🔑
1. Three legs up toward a resistance zone after a breakout
2. Head and Shoulders reversal pattern
3. Two-legged pullback to Weekly 200EMA Support
4. Wait for a double-bottom followed by a strong signal and confirmation candles
5. RSI at 43.00 and below the moving average. Supports waiting for a long entry.
💰 Trading Tip 💰
Ascending Wedges signal an increased probability of a bear breakout. Combined with three pushes up in a bull trend and strong sell bars (candles with large wicks on their tops), creates conditions where a counter-trend trade is reasonable.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
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GTAI/USDT - Ready for another Rise ? (READ THE CAPTION)By analyzing the GT Protocol chart on the 2-hour timeframe, we observe that the price is currently consolidating around 68 cents. If it manages to maintain support in the range of 59 to 66 cents, we could potentially see further growth in this cryptocurrency! The next probable liquidity pool targets are indicated on the chart.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
does Dogecoin DOGE price have a chance for x4 growth?Two months ago, we wrote about the possibility of #Dogecoin price falling to as low as $0.1
The #DOGEUSDT price has arrived here on steadily falling trade volumes and is testing a strong mirror zone from above.
Do you believe that this year the CRYPTOCAP:DOGE price will be able to gain a fix above $0.17-0.20 and head towards $0.41?
Doge: When there is blood....,Setting up first trade since my previous count got invalidated and stop loss hit. Risk to reward is pretty good here. If things go as planned, there will be profit taking along the way. Looking for first leg to reach $0.15- $0.16 where I will take out half of original capital and look for a B wave for a reload. Let's see how it goes.
BITCOIN - Watch Top For MAJOR Shorts! BIG Risk:Reward Setup!Following on from our last analysis where we identified that Bitcoin was in a 335 flat correction, we finally have the top in place.
We are now expecting 5 waves down to complete wave C of the major flat correction.
We've already completed wave 1 and now in wave 2. We're expecting price to move back up near the highs where we'll be looking for price to stay below ATH and make a major move down.
The risk to reward of this trade is unparalleled and an entry at the top will allow us to hold with very little drawdown, if any.
Trade Idea:
- Watch for price to move back towards the highs
- Expecting price to stay below ATH = stops above ATH
- Enter shorts when we see reversal signs such as trendline breaks, BOS etc
- Targets: 40k, 30k, 20k, 15kk
Goodluck and as always, trade safe!
Doge: just got complicatedHappy Birthday USA. Market just took a dump and invalidated several of my EW counts. Doge breached the unbreachable area of $0.107. That will make it a lot more complicated to track the price action. At the moment, there is no trade. Elliot wave perspective, several alternative counts are active now. Need to wait and see which way the price will unfold.
1. Bullish count: Primary wave 4 completed and price action since Oct last year is a leading diagonal. The price swings will need to be subdivided into 3 wave structures. It can be fitted. For this to correct, price needs to break over at least $0.32 in the next 3 to 6 months in a 3 wave structure. The trade will be at wave 2 following the completion of leading diagonal wave 1. I is usually a very sharp and deep wave prior to rocket.
2. Bearish count: Primary wave 4 is still in progress. March high was just the X wave and now Y wave is in progress. So far I can see a 3 waves down. So, it can either be a flat or a zigzag. Flat correction might bring price down to retest the $0.05 lows. Zigzag correction might take thing a lot lower. I don't think I will be shorting this at this stage. The trade now will be to wait till a bottom is confirmed and an uptrend is established.
Strong buying momentumDogecoin is currently positioned precisely on an ascending trend line. This trend line has historically acted as a support level, guiding the price upward. If Dogecoin manages to break above this line with strong buying momentum, there is a strong likelihood of a significant upward movement. Such a breakout would indicate a continuation of the bullish trend, potentially attracting more investors and leading to substantial gains.
SHIBAINU - Starting a new Bullish Move ? (READ THE CAPTION)By examining the #ShibaInu chart on the weekly timeframe (logarithmic), we observe that after an attractive growth, this cryptocurrency has again undergone a correction. We should soon expect the end of this correction and the beginning of the next bullish wave. Keep an eye on these prices: 0.00001542, 0.00001385, and 0.00001248. The new wave will likely start its next move after correcting to 1542. (This analysis will be updated)
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Cardano Daily TA : Support Levels and Potential Mid-Term TargetsBy examining the #Cardano chart on the daily timeframe, we observe that the price is trading in the 40 cent range. If the price can maintain the support zone of $0.35 to $0.385, we can expect further growth to higher targets for this attractive cryptocurrency. The medium-term targets for Cardano will be $0.42, $0.45, $0.51, and $0.58, respectively. The expected return in the medium term is between 15% to 40%!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
Bitcoin Weekly TA : Bitcoin Poised for Next Bullish Run (READ)By analyzing the Bitcoin chart on the weekly (logarithmic) timeframe, we observe that, as expected, the price corrected to $58,400 and encountered buying pressure. Currently, Bitcoin is trading around $63,000, having increased by 9%. If the price can stabilize and close above $63,300 this week, we can expect the start of the next bullish trend. Based on previous analyses, the mid-term targets for Bitcoin are $72,000, $77,000, $85,000, and $100,000.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
DOGE Dogecoin Bullish ReversalIf you haven`t bought DOGE before the breakout:
Nor sold the top:
Now upon closely examining the chart pattern of DOGE, it appears that the cryptocurrency is positioned for a bullish reversal within the confines of a falling wedge formation. This technical pattern, often seen as a precursor to a price breakout, suggests that Dogecoin could be on the verge of reversing its downward trend and entering a phase of upward momentum.