Understanding the Distinction Between Bitcoin and Crypto
- Uniqueness of Bitcoin: Bitcoin, launched in 2009, is the only cryptocurrency with a hard cap of 21 million coins and no corporate backing, focusing solely on peer-to-peer value transfer, which positions it uniquely in the crypto market with lower risk.
- Breadth of Crypto: The term 'crypto' encompasses a vast ecosystem of thousands of assets, protocols, and technologies, including Ethereum, stablecoins, and NFTs, each with distinct risk profiles and purposes, necessitating careful differentiation by investors.
- Strategies for Indian Investors: In India, many experienced crypto holders consider Bitcoin their core asset due to its strong liquidity and relatively lower risk, while other cryptocurrencies are viewed as speculative investments that require individual project assessments.
- Impact of Tax Policies: India imposes a 30% tax on gains from all virtual digital assets, and while Bitcoin and other cryptocurrencies are treated equally for tax purposes, their investment risks differ significantly, making it crucial for investors to recognize this distinction to avoid misjudgments.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.063 | 0.0703 | 0.0778 | 0.0851 | 0.0926 | 0.0999 | 0.107 |
| Fibonacci | 0.0703 | 0.076 | 0.0795 | 0.0851 | 0.0908 | 0.0943 | 0.0999 |
About DOGE
About the author
