A crypto analyst, "The Charting Guy," outlined a Dogecoin (DOGE) selling strategy based on Fibonacci levels, anticipating a potential market top in late April or early May 2025 followed by a significant drop.
Here's a summary:
Selling Strategy:
He plans to sell most of his DOGE holdings if the price reaches the 0.702 ($0.43) or 0.786 ($0.42) Fibonacci levels and fails to break above them.
He prioritizes profit-taking over holding for a $1 target, aiming to exit between $0.32 and $0.42.
Bullish Scenario:
If DOGE breaks above the 0.702 level, he expects continued bullish momentum, targeting higher Fibonacci levels up to $4.1.
Bearish Scenario:
If DOGE is rejected at the 0.702 or 0.786 levels, he anticipates a significant price decline to lower Fibonacci support levels, potentially as low as $0.049.
Timing:
He predicts a potential market top in late April or early May 2025, followed by a dramatic collapse in March 2025.
Key Indicator:
Fibonacci retracement and extension levels are the core of his trading strategy.
Please remember, I am a messenger, not recommending investment in any cryptocurrency. Good luck with your crypto investments.
(A quote from coinmarketcap)
