$DOGE The reversal is here, bottoming V reversal! Stop chasing shorts and giving away money!
Dogecoin has fallen 14.5% in 7 days and has now made a V-shaped rebound on the hourly chart. The bearish momentum is weakening, and the downside space is limited.
Going long on dips seems to be the best solution.
After a quick rebound following the bottom today, the support at the 0.102-0.1 level is quite critical, acting as the clearest defense line for bulls.
If it doesn't break down, it will undergo a low-level oscillation to build a bottom, with initial resistance at 0.1105, which is a recent pressure point. If it breaks through, then look for 0.115.
Currently, the strongest pressure is at the MA20 daily moving average, and it is difficult to break through in the short term.
Overall, the pattern is one of low-level oscillation, and market sentiment isn't showing any extreme reactions. There is a significant divergence between bulls and bears, making it suitable for light positions to bet on a rebound.
Enter light positions in the 0.103-0.105 range, with strict stop-loss below 0.102. The first target is 0.110.
The current price is near strong support, and the risk of chasing shorts is too high unless it breaks down and shifts back to a bearish mindset.
Dogecoin has fallen 14.5% in 7 days and has now made a V-shaped rebound on the hourly chart. The bearish momentum is weakening, and the downside space is limited.
Going long on dips seems to be the best solution.
After a quick rebound following the bottom today, the support at the 0.102-0.1 level is quite critical, acting as the clearest defense line for bulls.
If it doesn't break down, it will undergo a low-level oscillation to build a bottom, with initial resistance at 0.1105, which is a recent pressure point. If it breaks through, then look for 0.115.
Currently, the strongest pressure is at the MA20 daily moving average, and it is difficult to break through in the short term.
Overall, the pattern is one of low-level oscillation, and market sentiment isn't showing any extreme reactions. There is a significant divergence between bulls and bears, making it suitable for light positions to bet on a rebound.
Enter light positions in the 0.103-0.105 range, with strict stop-loss below 0.102. The first target is 0.110.
The current price is near strong support, and the risk of chasing shorts is too high unless it breaks down and shifts back to a bearish mindset.