Dogecoin Order Strategy
Brothers, I mentioned yesterday that Dogecoin would face significant resistance around 0.4. Looking back, isn't it true that most positions were entered around 0.4 last month?
Now that we see a chance to break even, shouldn't we consider closing positions or cutting losses to sell?
This is why 0.39 has been so difficult to break through; many people have already cut losses in the vicinity, and new retail investors have come in, while the big players haven't moved yet. So at this level, they are consolidating for a while to let those hesitant old retail investors and optimistic new retail investors get taken out in one go. Looking at the 4-hour chart, it has been neutral with no decisive outcome, so after a candlestick, the likelihood is that it will drop.
From the Fibonacci retracement perspective, we are currently at the golden ratio, pulling back before breaking through, so be bold and short.
Trading suggestion: Short around 0.39.