Getting started with Dogecoin (or any cryptocurrency) futures trading depends on your strategy and current market conditions. Here are some recommendations:
1. Identifying key levels
Support levels: If the price approaches $0.35–$0.37, this could be a good point to open long positions, as the probability of a bounce from support is high.
Resistance levels: If the price rises to $0.45 or higher, it is worth considering opening short positions, as the price may correct downwards at this level.
2. Trend trading
If the market is showing an upward trend (the price is growing on large volumes):
Start long positions after the price correction to the average support ($0.38–$0.39).
If the market shows a downtrend:
Open short positions after confirming the rebound from resistance ($0.42–$0.43).
3. Conditions for entering the trade
Before entering futures, make sure that:
1. Use stop losses: For long – below $0.35, for short – above $0.45.
2. Trading volume is high: Confirms the strength of the trend.
3. Indicators confirm your forecast: RSI <30 (oversold) for long; RSI >70 (overbought) for short.
4. My opinion
If you are a beginner, it is better to start trading when the price is closer to strong support or resistance levels. For example:
Long from $0.35 (with a target of $0.40–$0.42).
Short from $0.45 (with a target of $0.38–$0.40).
Do not use high leverage as DOGE is very volatile. 2x–5x will be enough to start.
