๐ Dogecoin (DOGE) Analysis - Daily Timeframe ๐
๐ Yesterday, we observed an interesting development on the daily chart. The candle closed below the previous one, forming a "turtle soup" pattern, often signaling a potential continuation of the downtrend.
๐ Today, the price is moving downward, gradually approaching the swing low level. We are currently in a bearish trend, so it's crucial to analyze the situation carefully before deciding to open any positions.
๐ก My opinion:
The price might drop to the critical level of $0.35, which could serve as strong support for a potential reversal. If this scenario plays out, we could see a recovery and a potential rise toward $0.60 next week.
๐ Tips:
Monitor support and resistance levels.
Manage your risk responsibly.
Stay cautious and avoid rushing decisions.
The crypto market is unpredictable, but with proper planning and analysis, you can make better-informed decisions. ๐