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A big hello community today is my 5th post of my week and I will fill out the form that touches today I will work on this post with a token which I will trade with real money I will not go leveraged yet but I will trade in such a way that I can make some profit with all the knowledge gained in #SteemitCryptoAcademy a big hello to the teachers @shemul21 and @abdu.navi03 and the team Team Frontline I hope we win. let's get started.
DOGE/USDT
Doge coin is a token that was created thanks to the fork of the Litecoin blockchain, which was launched in 2013 created by Billy Markus Oregon and Jacjson Palmer this was created based on a meme coin, it was created to tip the content creators of Reddit and Twitter then grabbed great popularity as the years passed which was adopted by basketball teams famous artists and companies like tesla which Elon Musk .
Doge coin works with a proof-of-work (POW) consensus mechanism, just like bitcoin, it needs a large system of equipment with advanced processors that allows the resolution of complicated mathematical algorithms, which in turn consumes energy that is converted into heat, validates the blocks and gives a reward to all the miners who participated in the creation of the block.
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Doge coin can be found in almost all the decentralized and centralized merchants.
Such as Binance, Coinbase, gate, bithumb, kucoin ETC....
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Technical Analysis of Doge/Usdt:
Performing my technical analysis I can notice a clear trend reversal pattern called Golden Cross THE which I will trade according to my strategy just after the second green candle something I like to do to confirm trades when this happens almost always is a confirmation of trend change out of the range that brought to a trend established by the pattern we see that from there the strength increases with a lot of power thus supporting the uptrend in 5min.
Our RSI is positioned at levels around the range of 70 which indicates an overbought asset at these levels subsequently wanting to break the previous resistance as the movement was given with force and volume this indicates or indicates a clear change of trend for the pre-defined temporality.
Help me with the following indicators ADX, RSI, EMA9 AND EMA20 the token is DOGE/USDT in 5min.
buy: Doge at 0.1235USDT total buy 90Doge = 11.1150USDT
Sell: Doge at 0.1249USDT sell 89DOGE= 11.1161 USDT
I really made +0 my profit I did not win or lose this trade was done in demo mode with real money just to demonstrate the knowledge acquired in the academy which I made it quick and easy for the better understanding of the academy.
Video:
As you know I have a youtube channel that deals with Crypto assets NFT token and information about various cryptocurrencies can access my channel through the following link
https://www.youtube.com/channel/UCfTYRrTAxrwc3eSizLhX3aQ
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Why am I bullish on this token today?
Doge coin has become very popular in social networks I do not recommend buying it in the future only for trading depends on how this fundamental and sentimental analysis as Doge coin is governed more with these fundamental than by technical analysis is very difficult to get answers with a technical analysis only as prices are very prone thanks to the psychology of marketing and influencer remember that the token market is moved by the masses thanks to the news but there is a reality, and that is that when the news arrives it is because the movement has already happened so my long term optimism is not so relevant.
My plan to hold Doge long or sell and if I recommend to buy or not:
I really do not want to have Doge coin long term for that there are better coins with better projects that will generate me many profits in the long term only Doge coin will be used for trading with respect to this question to keep Doge I do not think I do it because it is a meme and I do not trust the memes that does not have a solid and consolidated project on the table. ie it is still a meme that needs the momentum of influencers to pump its price. Although it has shown great capacity it needs a solid project in my opinion. I only use it to trade and yet there are better coins that I mentioned in my past tasks to trade.
Conclusion:
I have done my 5 exercise this week successfully entered into trades and it went well, therefore it was an exercise with real money demonstrative to show my talent in monetary trading and understanding of indicators and the different tools in addition I show that my strategy works and it is something extremely important as there are strategies that do not work so effectively.
Thanks to the academy I have learned to identify patterns, trends, supports and resistances with important levels in volumes something that I am very grateful to the teachers and to those who make possible every day the didactic learning of trading.
A fundamental analysis, sentimental analysis and technical analysis were performed in this exercise to determine then an effective entry point when I identify the pattern of the golden cross and to confirm because in short timeframes is very difficult to determine if a signal is real or has interference to confirm it I must enter the second green candle that confirms the trend and even more when the ADX comes with strength supporting the trend.
Thank you very much for your attention
Cc:
by: @laser145
@shemul21
@abdu.navi03
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