A very similar picture to what I said about BTC previously - price came back, re-tested the lower cost basis line and rallied both on new capital drawn back into the market and due to the effects the effects of 'Hold'ing'.
Of course with DOGE there is the dilution factor which, a bit like trying to overcome the effects of gravity, the high level of constant momentum and positive expectation needs top be maintained.
This expectation is more likely to be retained as costs on average pushes investor returns into the positive and profits are being achieved.
Word of caution: the spike / rally on the intra-day charts is pulling back as I write, so the strategy here is to allow the market to re-test the lows and buy on limits using intraday volatility to get you into the trade. Check for support is being maintained above the lower cost basis line, and this will ensure more of the market is behind your trade.
The first price target for longs, is the upper cost basis line - then, like BTC I will check to see what support or resistance is experiences at that level - will the still be domi nated by hodl'ers or will higher prices attract 'break-even' selling? Time will tell - but that is trade management and strartegy!
Of course with DOGE there is the dilution factor which, a bit like trying to overcome the effects of gravity, the high level of constant momentum and positive expectation needs top be maintained.
This expectation is more likely to be retained as costs on average pushes investor returns into the positive and profits are being achieved.
Word of caution: the spike / rally on the intra-day charts is pulling back as I write, so the strategy here is to allow the market to re-test the lows and buy on limits using intraday volatility to get you into the trade. Check for support is being maintained above the lower cost basis line, and this will ensure more of the market is behind your trade.
The first price target for longs, is the upper cost basis line - then, like BTC I will check to see what support or resistance is experiences at that level - will the still be domi nated by hodl'ers or will higher prices attract 'break-even' selling? Time will tell - but that is trade management and strartegy!
