Today has been a good day with Doge, as soon as Elon Musk tweeted the word "Doge", we have seen price increase by almost 50% before pulling back by 24% now.
Dogecoin buyers beware! If this 4H candle struggles to close above the trendline this move might be a pump and dump and if it is, I will look to close my futures long position, have a short term short and then re-entry long around 0.035.
Be mindful of the 50 MA positioning on the higher timeframes like 4H and above and the RSI levels at 1H+ and above, as you can see on the chart, price action seems to react whenever it's close to the 50 MA on the 4H.
Good luck traders and investors alike! Lets bring this coin to $1!
DISCLAIMER: This is not financial advice, just my opinion!
Dogecoin buyers beware! If this 4H candle struggles to close above the trendline this move might be a pump and dump and if it is, I will look to close my futures long position, have a short term short and then re-entry long around 0.035.
Be mindful of the 50 MA positioning on the higher timeframes like 4H and above and the RSI levels at 1H+ and above, as you can see on the chart, price action seems to react whenever it's close to the 50 MA on the 4H.
Good luck traders and investors alike! Lets bring this coin to $1!
DISCLAIMER: This is not financial advice, just my opinion!
Daily candle close below 0.05 could mean further consolidation/decline ahead.