Dogecoin loses 50%
May 13, 2021 8:24 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Hello, dear traders! Here is my trading idea for Dogecoin
Yesterday, Dogecoin lost 50%.
The fall in the value of the digital coin became the culmination of the 4-day downward trend that ended with a major crash yesterday.
Notably, Dogecoin was not the only cryptocurrency to plunge yesterday.
Bitcoin lost $10,000 for a day, marking one of its record falls. The price collapsed after Elon Musk’s announcement that Tesla halts purchases of its electric vehicles with BTC due to rapidly increasing use of fossil fuels for bitcoin mining.
Our task is to make money. In this case, we should buy the instrument that tumbled the most, and this is Dogecoin. The token currently costs some 50% of its value. Entering long positions in the 0.4 zone with a 0.1% risk, a Take Profit can be set at 0.8, which is 100% of the investment (see the chart above).
Have a nice trading day!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: