DOGE at a Crossroads: Big Move Ahead?
DOGE is currently forming a descending channel pattern, making the price action increasingly interesting.
If further panic selling occurs or a deeper retracement takes place, DOGE is likely to bounce from the strong support zone between $0.16588 and $0.17704 (Green). However, for confirmation of a bullish move, we need to see a bullish CHoCH, a W pattern, or an inverse head & shoulders forming on the lower time frames.
If DOGE closes a candle below this key support zone, the bullish outlook becomes invalid. In that case, it's best to stay on the sidelines and wait for clearer price action rather than forcing a trade.
Patience and discipline are key to long-term profitability. Avoid rushing into trades—wait for high-probability setups and stick to well-defined trading strategies.
If further panic selling occurs or a deeper retracement takes place, DOGE is likely to bounce from the strong support zone between $0.16588 and $0.17704 (Green). However, for confirmation of a bullish move, we need to see a bullish CHoCH, a W pattern, or an inverse head & shoulders forming on the lower time frames.
If DOGE closes a candle below this key support zone, the bullish outlook becomes invalid. In that case, it's best to stay on the sidelines and wait for clearer price action rather than forcing a trade.
Patience and discipline are key to long-term profitability. Avoid rushing into trades—wait for high-probability setups and stick to well-defined trading strategies.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.