Short at 0.23, hold for a 400% return! Where does the confidence come from?
Before yesterday, $DOGE had repeatedly hit the resistance level of 0.24 without success. This position has a large number of trapped positions, and the success rate of breaking through is less than 30%; before opening a position, I observed that the price was at a technical weakness point below the resistance level;
Although Grayscale submitted a spot ETF application for DOGE, the SEC simultaneously postponed the approval of the Solana ETF to October, causing a sharp decline in market confidence for meme coin ETFs.
Should we continue moving forward or take profits?
If DOGE remains below 0.215, short positions can continue to hold, aiming for 0.17;
However, if it breaks 0.23, take profits and exit.
Those looking to go long shouldn't rush: you must wait for $BTC to stabilize, as their correlation is over 80%;
You also need to wait for a large on-chain purchase of over 100 million DOGE before entering the market.
Additionally, the potential black swan of payment integration and ETF approvals in September is something everyone must pay attention to.
Short sellers profit from trends, and trends will eventually turn; what we need to do is always set stop losses! If you want to avoid detours, keep up with my pace. I provide top-notch information and strategies to fans, allowing for easy profit with real-time layouts. Those who agree can come directly!
