Doge (DogeCoin) from the current perspective, what will happen next?
DogeCoin has entered the bear market downtrend stage. When the overall trend has reversed, the rebounds in between are just traps to continuously trap people.
Currently, the weekly chart for Doge shows a downtrend. Today is Saturday, and the weekly K-line has not closed yet, with no signs of stopping the decline. There are two important support levels below.
On the daily chart, after a long period of decline, a reversal signal has appeared, indicating that the downtrend on the daily chart has reversed.
Although we are currently in a consolidation phase, it is very likely that after the consolidation, we will see a rebound. However, do not be blindly optimistic and think that it will break the previous high and reach $1 or $2. The DogeCoin ETF is likely a bait to trap more retail investors.
Some friends may have entered DogeCoin at a high point previously and hope that DogeCoin will rise, break even, or even exceed $1.
We must view the facts objectively. It's normal for the market to decline for a long time and then rebound a bit.
The key issue is to understand the overall trend direction of this coin. Just like DogeCoin, if it has already peaked, even if there is a rebound, it is unlikely to break new highs.
If you are unclear about this, just waiting mindlessly for the price to rise to your target price will likely cause you to miss out on opportunities for self-liquidation and stop-loss, and you will miss out on other quality cryptocurrencies that are rising.
Whether buying or selling, taking profits or cutting losses should not be based on feelings, but rather on being able to analyze the market.
Even if you are currently trapped, when the market rises later, you need to be able to judge when it has risen enough and seize the opportunity to exit at the top.
The most terrifying thing is that it is obvious that it is because you cannot understand whether the market will rise or fall later. You have already made a mistake in the timing of your purchase.
However, without realizing your shortcomings, you continue to use the same methods to approach your subsequent trades, still guessing based on feelings.
In conversations with friends, I often encounter this situation: In the last round, I was trapped all the way down because I couldn't understand the peak, but now I still cannot judge the peak or the bottom, only summarizing superficially, 'This time I'll run a bit faster.'
But it is evident that the peaks of many cryptocurrencies have long appeared, and many people are still holding on tightly, obviously trapped again, yet still fantasizing that I will run faster next time.
$DOGE
#狗狗币崛起 #doge⚡
DogeCoin has entered the bear market downtrend stage. When the overall trend has reversed, the rebounds in between are just traps to continuously trap people.
Currently, the weekly chart for Doge shows a downtrend. Today is Saturday, and the weekly K-line has not closed yet, with no signs of stopping the decline. There are two important support levels below.
On the daily chart, after a long period of decline, a reversal signal has appeared, indicating that the downtrend on the daily chart has reversed.
Although we are currently in a consolidation phase, it is very likely that after the consolidation, we will see a rebound. However, do not be blindly optimistic and think that it will break the previous high and reach $1 or $2. The DogeCoin ETF is likely a bait to trap more retail investors.
Some friends may have entered DogeCoin at a high point previously and hope that DogeCoin will rise, break even, or even exceed $1.
We must view the facts objectively. It's normal for the market to decline for a long time and then rebound a bit.
The key issue is to understand the overall trend direction of this coin. Just like DogeCoin, if it has already peaked, even if there is a rebound, it is unlikely to break new highs.
If you are unclear about this, just waiting mindlessly for the price to rise to your target price will likely cause you to miss out on opportunities for self-liquidation and stop-loss, and you will miss out on other quality cryptocurrencies that are rising.
Whether buying or selling, taking profits or cutting losses should not be based on feelings, but rather on being able to analyze the market.
Even if you are currently trapped, when the market rises later, you need to be able to judge when it has risen enough and seize the opportunity to exit at the top.
The most terrifying thing is that it is obvious that it is because you cannot understand whether the market will rise or fall later. You have already made a mistake in the timing of your purchase.
However, without realizing your shortcomings, you continue to use the same methods to approach your subsequent trades, still guessing based on feelings.
In conversations with friends, I often encounter this situation: In the last round, I was trapped all the way down because I couldn't understand the peak, but now I still cannot judge the peak or the bottom, only summarizing superficially, 'This time I'll run a bit faster.'
But it is evident that the peaks of many cryptocurrencies have long appeared, and many people are still holding on tightly, obviously trapped again, yet still fantasizing that I will run faster next time.
$DOGE
#狗狗币崛起 #doge⚡