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Dogecoin Limit Order Strategy
Brothers, I mentioned yesterday that Dogecoin would encounter significant resistance around 0.4. Remember last month when most entries were long positions at 0.4?
Now that we finally see a chance to break even, should we close our positions or cut losses to sell?
This is why 0.39 has been difficult to break through; many people have sold off nearby to cut their losses, and new retail investors are stepping in while the big players haven't moved yet. So, at this position, we might consolidate for a while, then target those hesitant old investors and optimistic new investors in one go. Looking at the 4-hour chart, it remains neutral with no clear outcome, so after a consolidation, it is likely to drop.
From the Fibonacci retracement perspective, we are currently at the golden ratio point, with a pullback before a breakout, so be bold and short.
It is recommended to short near 0.39.
$DOGE
Brothers, I mentioned yesterday that Dogecoin would encounter significant resistance around 0.4. Remember last month when most entries were long positions at 0.4?
Now that we finally see a chance to break even, should we close our positions or cut losses to sell?
This is why 0.39 has been difficult to break through; many people have sold off nearby to cut their losses, and new retail investors are stepping in while the big players haven't moved yet. So, at this position, we might consolidate for a while, then target those hesitant old investors and optimistic new investors in one go. Looking at the 4-hour chart, it remains neutral with no clear outcome, so after a consolidation, it is likely to drop.
From the Fibonacci retracement perspective, we are currently at the golden ratio point, with a pullback before a breakout, so be bold and short.
It is recommended to short near 0.39.
$DOGE
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