๐ฅ๐ฅTrade Analysis 53: $DOGS Finally Found Its Bottom?!
DOGS has dropped 42% from its recent high of $0.00166 and 31% from its initial launch price of $0.0014. However, the coin seems to have found support around $0.00096, with a first drop to $0.00096 on September 4th and a second, higher low of $0.00099 on September 7th.
Let's delve into a few potential scenarios for DOGS to guide our trading:
[LIKE & FOLLOW me now. Your Wallet will Thanks you later ๐๐ฐ๐]
1. Continued Decline:
While the coin has created a higher low, there's still a possibility of further price declines, especially given the current bearish market sentiment. If the price drops below $0.00096 with high volume, we could consider going short, with a stop-loss set above the high of the red bearish candle.
2. Breakout Rise:
However, if the overall market sentiment shifts bullish and the Telegram CEO case develops more positively, DOGS could experience a breakout rise. If the price breaks above $0.00114 with high volume, we could consider going long and taking short-term profits at $0.00133 or holding for long-term gains.
That's it for today $DOGS Trade Analysis. I hope this analysis help you make smarter trade decision.
Trade Smarter! Peace Out ;)
