Dogecoin / TetherUSUpdated Did DOGE fail?
A quick recent history of me and DOGE: I pointed out this accumulation-like structure multiple times months ago. I was a firm believer that it was about to do its real move. We had a move that right now looks like a fakeout, unfortunately. Anyway I sold months ago again then I bought some little amounts of dog coins including DOGE luckily at the very dip of this last dump, but, is it actually a failed pattern?
In my opinion, it looks like a failure atm. For very long-term, let's say 3-4 years, I still believe DOGE is likely to do a big favor to the hardcore fans. I mean in this scenario on the chart for example, imagine buying DOGE at 0.03 next year, and holding it for 2 years afterwards? That is not something easy to do.
To summarize, I think there is a scenario where DOGE goes below the "accumulation" level. But will it be the end of it? It was a joke anyway? I don't think so. I mean yes it is a joke. But at least not a joke as bad as Bitcoin lol. So practically, I am very cautious about DOGE atm. For all risk markets to be honest. Rest of the year and 2025 might be real bad. But again for the long-term, I think DOGE has a cultural value and the chart might prove that.
In my opinion, it looks like a failure atm. For very long-term, let's say 3-4 years, I still believe DOGE is likely to do a big favor to the hardcore fans. I mean in this scenario on the chart for example, imagine buying DOGE at 0.03 next year, and holding it for 2 years afterwards? That is not something easy to do.
To summarize, I think there is a scenario where DOGE goes below the "accumulation" level. But will it be the end of it? It was a joke anyway? I don't think so. I mean yes it is a joke. But at least not a joke as bad as Bitcoin lol. So practically, I am very cautious about DOGE atm. For all risk markets to be honest. Rest of the year and 2025 might be real bad. But again for the long-term, I think DOGE has a cultural value and the chart might prove that.
Note
Back to fucking dogs lol. I think it looks alright for now. I'll update.
Trade closed manually
I'm out.Note
Let me show you two vastly different charts. This is why I say there is still hope for long-term DOGE.
Note
This could play out too. Either way it's best to do nothing about DOGE right now.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.