DOGE: Can support hold?

27 ม.ค.

After breaking out of $0.18 area, Doge has made a nice 5 waves move. Now it is time to see if it was just another C wave to extend its dreaded multiyear correction, or if it is, in fact, the bull run that the bag holders have been waiting for years. I will not want to see Doge breaking below the $0.23 support area of March 2024 high. I would be perfect if Doge can bounce from 0.618 fib support area of $0.24. The next week or 2 will be crucial to see how price action evolves. Price will have to break below $0.12 to be really bearish. Until then, would like to see BTC and other top names put in the lows and start making new highs.

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Moment of truth....If price cannot hold support this week, a lot of hurt will ensue. Ideally this low should mark the bottom of minor 2 and we should see an upward trend. But the macro fundamental picture is shifting with new trade wars and that is not very good for the markets. It is time to be very cautious and add stop loss.