$DOGS just printed a strong move and is currently trading at 0.00005232, sitting just below that 0.00005287 high we saw on this 4h chart.
Look at the structure from the left. Price came from around 0.00004324 and has been making higher highs and higher lows the whole way. That last leg up was aggressive and took us straight into the recent high. Right now price is holding near the top after a small pullback.
The key level I’m watching is that 0.00005287 high. Price tagged it and is now sitting just underneath. A clean break and hold above it would open the door for continuation. On the downside, the recent swing lows and that zone around 0.00004911–0.00004700 look like the areas that matter if sellers step in.
RSI is sitting at 83.7 right now. That’s stretched. Doesn’t mean price has to reverse, but it does mean the move is extended and we could see some digestion or a pullback before the next leg.
If bulls stay in control and we break above 0.00005287 with volume, the path higher stays open.
If price gets rejected here and starts losing the recent higher lows, then a deeper retrace toward the mid-range becomes more likely.
This is the part I’m watching closely. How price behaves around this high will tell us a lot in the next few candles.
Guys follow for more chart analysis 😎 I’ll keep showing you exactly what the chart is telling us. 👀🔥
Look at the structure from the left. Price came from around 0.00004324 and has been making higher highs and higher lows the whole way. That last leg up was aggressive and took us straight into the recent high. Right now price is holding near the top after a small pullback.
The key level I’m watching is that 0.00005287 high. Price tagged it and is now sitting just underneath. A clean break and hold above it would open the door for continuation. On the downside, the recent swing lows and that zone around 0.00004911–0.00004700 look like the areas that matter if sellers step in.
RSI is sitting at 83.7 right now. That’s stretched. Doesn’t mean price has to reverse, but it does mean the move is extended and we could see some digestion or a pullback before the next leg.
If bulls stay in control and we break above 0.00005287 with volume, the path higher stays open.
If price gets rejected here and starts losing the recent higher lows, then a deeper retrace toward the mid-range becomes more likely.
This is the part I’m watching closely. How price behaves around this high will tell us a lot in the next few candles.
Guys follow for more chart analysis 😎 I’ll keep showing you exactly what the chart is telling us. 👀🔥
