2021-12-14 19:03:50
So TSLA announced that they would be selling some stuff with Dogecoin. So obviously people ran over to buy DOGE
However, it immediately found selling pressure. Maybe DOGE will continue growing yes, huge FOMO on this coin as always, but look at the squared area.
This is an area with a lot of liquidity, lot of people bought and their investments tanked. Meaning that they were looking for a way out. So as all these fomo buyers come through, what happens?
Take profits! Or even break-even, or even “I will loss something but not as much”. So massive selling pressure.
Still, an interesting 20% candle at the moment, and is just holding above the EMA20 which is a nice sign. This can actually turn DOGE into a few more daily green candles.
We do not trade doge or shiba. The type of investor it has and the type of investment it is does not match our profile nor our investment objectives, but we figured we could share this with you.
721 views16:03