₦airaland Forum

jedisco:
Doge... Slowly getting there...

Points to note....
Previous high at 0.45,
21d ema at 0.42
Support block around 0.36-0.32 if it wicks below the 21d ema...

Was able to catch 2 bids on this...
Sold part early on and the remaining at 6....

Bought again at 0.55 and plan to sell as close to 6 as possible.
Made up for most of my stops...

Looking back... I'd say I played doge wrongly.... I played it from the top like when it was still a microcap... The play should have been from the bottom considering its liquidity..... Was too focused on possible tops rather than catching the dips..

Two things you can't take away from doge now is the volatility and the liquidity...

Already, I'd say there's a cheat code as the range is clear... On the way up, main resistance was at whole numbers

Waiting for the daily close today...
Got good bids set lower down... Wouldn't mind waking up to see them filled and repeat the process again tomorrow... If it keeps rallying, good and fine, I look for the next dip.

dogtails:
As doge don drop everyone has turned motivational speakers...Where were y'all when doge was pumping and y didn't u drop this speech then!!! Anyways goodluck to every trader out there

Hehe...
People say retrospective vision is 20/20... It's always obvious when you look back

iceberg02:
Thanks for your reply, can I buy all this coin on binaz? And how do I know when to sell?

Yes there on binaz ..
It's you that'd determine when to sell.

Quite rare for a major to selloff and the whole market doesn't react... Whether it's xrp, eith or even doge....

Seems the market is now reacting to the doge selloff....

DumaEmpire:
I like this guy

Meanwhile below is a picture of those that bought Doggy Doge at 0.70 cents desperately looking for a reason not to fall under depression this week

Hehe... Lets cut folks some slack...

I also bought doge at 0.7 and was stopped out at a loss...

People are on and about about how doge will make people poor... I don't see what doge has done on this retrace that other alyts have not done in this space.

Xrp dipped from 0.6 to 0.2 during the sec stuff, recently, it dipped to 90cents after hitting 2 dollars...
LTC and link have been fully retracing all the rallies they've had this yr... And many others.
Even betece has deep retraces.

Looking at the big picture, there's been a massive pump on doge, and there'd be a retrace... I'm sure deep pockets are well positioned to buy off a capitulation... The liquidity in doge will not disappear overnight.. it's the liquidity that draws me in... I wouldn't ve surprised to see doge trading at previous highs within 2 weeks...

Doge... Slowly getting there...

Points to note....
Previous high at 0.45,
21d ema at 0.42
Support block around 0.36-0.32 if it wicks below the 21d ema...

Notyamate:
Now the profits from $Doge can circulate to other coins.

Doge has not stopped other coyns from pumping...
Afterall, eith has been doing its thing... The liquidity on it will still be there for a while...

It dumped to 0.15 after the last rally and still found its way back to the top

nihilistjnr:
Las las the smart move was to jump back into Eith jejely that yesterday

You won't ever hear me talk about any other coyn again.

My own lesson has been learned.

Lol.... You've always been an eith guy... Wonder why u abandoned your beloved

mike8804:
bro any analysis on TRB(tellor) for next week?

How I go take know what a coyn will do next week?

Not a coyn I trade....Moreso betece seems to be dealing with resistance.... Alyts generally dont do well when betece is at resistance.. for now, I'm more focused on certain majors till there's more clarity in the market

Tyche:
I am looking at taking profit into ethy as against BTC in this run. Ibime, Jedisco what do you think

When deciding on if to take profits into eith or betece, I usually look at how they are performing against themselves...

On the eith/betece chart, Eithy has had 6 straight green weeks against betece.... There's still some upside left against betece before the next resistance... It may pullback before hand but would ultimately get there... That means eith may outperform betece for a short time more...

But looking at it from an ROI or risk to reward point of view, the time to take profits into eith was 5-6 weeks ago when it was ranging and other alyts were popping. Now betece is has been ranging for a while, very soon it will move..

In summary, if taking profits into eith now, watch the chart as soon enough, it'd be better to be in betece

iceberg02:
I'm new to all this stuff where will you advise me to start from?
jedisco
Ibime

The king of the bunch which is betece...
Might be also worth getting some larger cap coyns which still have some gas... Such as ada, bnb

Ibime:
Thanks I'm in a swing from 0.65 to 0.71 range

I'm also leaving a seperate trade with a small amount ($2k) to ride overnight incase Elon turns SNL to the Doge show and it is received well.

Hehehe.... How did it go?

Brutal selloff... No mercy was shown

Also, alot of talk about doge to 1 dolls... Seems most people are waiting to sell at 1

What I think?
I doubt the rally will stop at 1 dolls if it gets there... Doge rallies hardly end at rounded numbers..(Previous ones topped at 0.085 and 0.45)... It's usually a perfect trap for those aiming for the nezt round figure

I'm leaning more towards two possibilities...

1. If 1 dolls is supposed to be the the top, the level may be massively frontran before that (say 0.85-0.9)... 0.85 rings a bell just like the rally before this... A selloff there would leave those waiting to sell or short at 1 dolls pants down

2. Another possibility, it gets to 1 dolls. Folks selloff and think they're geniuses, others try to short at 1 dolls also... It pullsback a bit, flips 1 dolls and starts rallying... The fuel will be those shorting as price will squuze and liqidate them... Also, those who sold at 1 dolls thinking it was the top will FOMO as more fuel...

That said, I'm playing it level by level... It first needs to get above 0.74 first... If it does, I'd reduce position around 0.85 and continue till as it moves up and see if it flips 1... If fails to get above 0.72-0.74, I'd cut my position

Doge with a proper 4hr close... Confirm the flip of 0.65 as support...

I believe with that close, price will sooner or later look to challenge the resistance at 0.715-0.74....

Two possibilities I'm looking at...
First will be a lil pullback at 0.72 but it ultimately takes the resistance and perhaps rallies to 0.85ish..

Second is if it forms a double top at that area (just like the previous move up - in blue). That would be more concerning cos it'd need to visit the 4hr support below again which has been visited 3 times recently and is now very close to the resistance... I doubt it'd hold if visited again after a rejection from 0.72...

Lets see how this goes...

Ibime:
Thanks I'm in a swing from 0.65 to 0.71 range

I'm also leaving a seperate trade with a small amount ($2k) to ride overnight incase Elon turns SNL to the Doge show and it is received well.

Seems you caught the flip (dotted line)
If taking a measured swing trade, ideally, stops will be below the retest point.......

Without the SNL, doge has been maintaining structure on this pump... It's not just a straight line... There's been support resistance flips on the 4hrly chart which is significant structure being made... Makes me think structure will hold for a while... My concern with this upward move is that volume has generally been on a decrease... if it continues, then there'd likely be a proper selloff to confirm the trend or a breakout on huge volume... Also, betece is looking more and more ready to breakout... I've noticed doge dosent do so well when betece runs

Obviously, with doge being such a large cap now, such huge rallies are more difficult... A 50% move up on doge will mean 44 billion dollar increase in market cap...



P.s. forgot to attach the chart in my initial post

With eith pumping, good chance ETC follows suit...

Its bounced off the 4hrly 21ema... I'd look to make an entry as close to 120 as possible... Looking at a support cluster at 123-125 (blue arrow)

Target is 180....

Personally, I believe it's pump is done and this should be a dead cat bounce hence why I'm willing to play it cautiously and wait for bids at my preferred level so my stops aren't so far


BTW, this is another bounce off the 21ema... Which further buttresses my point of targeting entries

Ibime:
Are we set up for a swing? I'm considering jumping back in for a swing play, the way that large downward wick was eaten up

Hehe... Swing is already in play na...

Good buys would have been at 0.63 and 0.6...
It seems to have formed and broken out of an inverse head and shoulder on the 15 minute chart.

The neckline for that is at 0.67 and will be a good bid on a retest...
Target will be adding the range of the head to the breakout level... (0.67-0.63)+ 0.67... lines up yo 0.71 - 0.72 which coincides with the breakdown level and an area to take profit..

Looking at the 4hrly doge chart, I think a sensible way all this while would have been to play it on dips rarher that wait anxiously for a pump

OffsahBoye:
Sorry pls
I'm confused here pls,is it the support that was at 0.627 or the 21ema

The 21 ema... I prefer to use the ema in a trend.
The 4hrly support is at 0.65. look dotted line on the 4hr chart below and see how price has interacted with it

TheSTreetman:
This guy need to be followed by everyone here.

Doge dipped to the 4hr support and bounce back immediately..

All hands on desk to see what happens next.

Easy brother...mk u no follow me enter water

Enosa1:
lol... It seems the SNL was a sell-off for doge... I'm out

I wouldn't call this a selloff just yet... It seems more like a retest of the 4hr support which is not unusual in any uptrend....
If prices start going below 0.6 without a bounce, then that'd be a selloff.


With the way everyone is talking about SNL and how opinions are split, what if it has already been priced in.... I.e, it comes and goes and stuff just keeps ranging

Ibime:
I've sold my Doge at 20% profit and set the below alerts. Volume is quite low, I don't know whether the buy the rumours and sell the news people are getting ready to dump. It's getting too close to this SNL performance now. They should alert me when they start moving either way but Im not setting any orders, only alerts so as not to catch a falling knife or fake breakout.

Nice play.... My stops were hit but they were lower than I'd have wanted

Hehe.... Just submitted my post and alerts started going off... Seems its happening already

Looking at doge, I'd it's not fared badly considering how alyts have bled as betece is approaching resistance.....

On the 4hr chart (1st pic), if the current 4hr candle (which will close in 30 mins) closes this way, that'd make it 4 candles in a row for which the 0.715- 0.72 acted as resistance... I'd either tighten my stops or cut some exposure and wait till it gets above 0.74. It'd be logical to then expect a pullback to support below... The 4hr support is currently at 0.627... so thats an area to keep in mind.

Also on the 15 min chart (2nd pic), there stops below that such a pullback will clear out...

ObodoNaija:
Please bros, can you help me to briefly take a look at Burger. Should I buy now or I should wait for it to dip?

Burger is a new coyn and not one I trade..

Generally with new coyns which I think have potential, I trade them same way.... I wait for the initial pump and subsequent selloff to complete, see what structure it has, before getting in...

But looking at it's daily chart (1st pic-not complete yet) aside a wick, there's little or nothing traded between 20 and 30.... I don't see much of a good trade here except it flips 30 or the today closes above that resistance at 20.
For now, 20 is the resistance.... Also, looking at it, there's the possibility this pump might be a dead cat bounce before further downside.

Regarding possible areas to bid, on the 4hr chart, there's the 21 ema (which is relatively new and doesn't have much interaction to know how well price respects it).
This ema is marked 3, and is currently at 16.5, there's also a support cluster at 15 and 13 (marjed 2 and 1) for possible bids...

All in all, I'm playing this, I'd play it level to level

Zobah:
They will settle out of court.

Ok... Personally, I'm not really concerned about the court case....

We're in a bullrun and there are numerous coyns. I trade ripple for the profit.... From a technical standpoint, I don't see much of what ripple does that other coins cant.

essay007:
You're right my man. However, ripples case is quite unique. They're in a lawsuit that's preventing the coin (really great potential) from reaching that height. If they win their case or make out of court settlement, you can bet your bottom dollar that ripple will sky rocket.
As for Doge, I feel it'll reach $1 tomorrow as Elon Musk will be on SNL.

The court case is fairly recent... It topped at 3 dolls in 2017 when most thought it'd go higher.
Even with betece.... When it was at 19-20k in 2017, very few thought it had topped... The general consensus was that it may pullback but definitely go higher... Well it took 3-4 years to see those numbers again...

What I'm saying is that when rallie/markets become heavily driven by irrational greed, they usually flip when least expected....
That's why I prefer to play things level by level cos no coyn is an endless money spinner

nna777:
1HTF suggests a ranging trend. 4HTF & 5HTF suggests an uptrend and I think the uptrend will take place in the evening. Hodlers & non hodlers alike are patiently waiting for SNL. Till then it might keep ranging between 0.7 & 0.73.

What Nigerian time is this SNL?
Would be interesting to see what happens then.... Let's hope it's not a 'buy the rumour, sell the news' event as we've seen before

Cannicus:
Bro, this theta pump go fit reach $15 today?

E never pick my $13.2 sell order.

How come ur order wasn't picked... It hit 13.2 niecly... I know that was my target from a while back...

After 13.2, the next major resistance is at 15... There's another at 14.2 but should be less of an issue...

Regarding when it'd get there... No idea... It's on a pullback now and would need to get a base to bounce, then flip 13.2 before any further upside

essay007:
However risky doge may be, this is reminiscent of what earlier investors said of BTC. Now look at btc.
Doge is a meme coin that has made people a ton of money and I believe it will continue to do so. The whales won't sell just yet. The greed is there, doge will keep surging.
My personal opinion though.

I usually don't try to time the top of a parabola or underestimate the strength of a raging crowd....
But then in every market, a parabolic rally is driven by irrational buying... Irrespective of the price, one day the buying pressure will decline and the opposite happens....

We've seen such parabolic rallies in crypt0 before... Look at ripple, it pumped from almost nothing to 3 dolls in 2017.... Then, folks thought it'd continue but 4 years later its still not hit that price....

Also, comparing doge to betece is different... A good part of doge supply is still in a few hands, they don't have thesame infrastructure backing them or deflationary model....

In summary, doge has made alot of people money (including me) but I know markets don't work that way where everyone keeps making a ton of money... That money has to cone from somewhere. Also with all such rallies, majority end up loosing or giving back their profits to the market (ask ripple folks). I'm trading it stage by stage and not seeing it as an endless money printer....

prince0011:
Jedisco, you couldn't have said this any better. The whales will pull the rug for doge, it is a given for every massive rally they have. The best strategy is to take profits along the way and get back in with SL. Anyone trading doge using leverage will most likely observe a night vigil today.

Stuff that go up rapidly, come down rapidly..... that's sure in crypt0... Not due to whales perse but just a normal dynamic in markets... Stuff goes up cos there are more buyers than sellers...if buying pressure gets exhausted, it goes down and the cycle repeats over and over again.

One thing it's got right now is the liquidity.... So wouldn't be a bad on to snipe on proper dips

Vlyrics:
@jedisco, please once we finish riding doge which coin bounces back from a downtrend fastest. Cos I know doge will take them down.

Interestingly, doge seems to be the one bouncing quickly if you catch the right dip... There's lots of liquidity on it and that wouldn't change soon...

What has changed is that there has been less buying pressure after a breakout compared to previous rallies (perhaps folks are more interested in buying the dips and selling breakouts).. Also, volume has been on the decrease generally which is not a good sign

Brief reminder to all trading doge... It's a risky coyn to trade despite liquidity....
No matter how low, it's advisable to us stops moreso once it's gone past your buy zone