🔥 DOGE/USDT Short Term Channel idea

5 feb 2021

After yesterday's amazing run-up, DOGE is consolidating in a range which extends from roughly $0.43 to $0.54. After the recent touch of the bottom support of the channel, DOGE has been producing higher highs and lower lows, indicating a short term trend change.

If you decide to trade this pair, keep in mind that DOGE is one of the most volatile crypto's of the last couple of weeks. Always use a stop loss and limit your exposure.

A great potential exit would be the top of the channel. If volume keeps flowing in and bars become larger you could potentially stretch the trade till the $0.60 area, any further than that would be risky.

Happy trading!

5 feb 2021

Nota

I missed a zero on the targets.

Range: 0.043 - 0.054
Potential target: 0.06