DOGE: Short-term fluctuations, layout for long positions
In the analysis of DOGE on November 12, it was mentioned that the medium to long-term outlook for DOGE is bullish, and opportunities should be sought to enter long positions. From the current market situation, the upward trend of DOGE has turned into a downward trend, and based on the current rebound strength, it is likely that the downward movement is not yet over. The energy bars of the 1-hour MACD indicator are starting to weaken, and it is likely to form a dead cross again and move below the 0 axis. Although the OBV data has rebounded somewhat, it is still incomparable to the magnitude of the decline, and the willingness of bulls to hold positions is not high.
The blue line in the chart is the descending trend line of DOGE from the high point, and the current price has broken through the descending trend line, indicating that the possibility of continuing to drop significantly in the short term is low. It is more likely to show a fluctuating downward or sideways trend. It is expected that DOGE will still have opportunities to test the support of the red upward trend line again, and the yellow line area is a potential long entry point.
Operation
0.072 can be set as a limit long position, waiting for the opportunity to be filled, stop-loss price 0.069
In the analysis of DOGE on November 12, it was mentioned that the medium to long-term outlook for DOGE is bullish, and opportunities should be sought to enter long positions. From the current market situation, the upward trend of DOGE has turned into a downward trend, and based on the current rebound strength, it is likely that the downward movement is not yet over. The energy bars of the 1-hour MACD indicator are starting to weaken, and it is likely to form a dead cross again and move below the 0 axis. Although the OBV data has rebounded somewhat, it is still incomparable to the magnitude of the decline, and the willingness of bulls to hold positions is not high.
The blue line in the chart is the descending trend line of DOGE from the high point, and the current price has broken through the descending trend line, indicating that the possibility of continuing to drop significantly in the short term is low. It is more likely to show a fluctuating downward or sideways trend. It is expected that DOGE will still have opportunities to test the support of the red upward trend line again, and the yellow line area is a potential long entry point.
Operation
0.072 can be set as a limit long position, waiting for the opportunity to be filled, stop-loss price 0.069