bitcub
@t_bitcub
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DOGE is currently testing a key resistance zone marked by the red circle on the chart. This area coincides with the crucial Fibonacci levels of 0.618 to 0.65, a classic retracement zone that often signals strong reversal potential. Key points to watch: The orange descending trendline is the main resistance. A break above this line combined with the red circle zone breakout could trigger a strong bullish momentum. My 1st Take Profit (TP) target is set around the 0.618 to 0.65 Fibonacci retracement level (~$0.34 - $0.36). Support is well-defined by the ascending orange trendline, providing a good risk management area if the price pulls back. Trading strategy: Consider entering long if price decisively breaks above the red circle resistance with strong volume confirmation. Use the ascending trendline as a stop-loss area to protect your position. First target is at the Fibonacci zone mentioned above, but be prepared for potential continuation if bullish momentum sustains! Stay tuned for updates and always use proper risk management. Let me know your thoughts or alternative targets below! 👇
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Any content and materials included in Sahmeto's website and official communication channels are a compilation of personal opinions and analyses and are not binding. They do not constitute any recommendation for buying, selling, entering or exiting the stock market and cryptocurrency market. Also, all news and analyses included in the website and channels are merely republished information from official and unofficial domestic and foreign sources, and it is obvious that users of the said content are responsible for following up and ensuring the authenticity and accuracy of the materials. Therefore, while disclaiming responsibility, it is declared that the responsibility for any decision-making, action, and potential profit and loss in the capital market and cryptocurrency market lies with the trader.