$DOGE
I will analyze the charts of DOGE and BTC in detail to provide insights:
1. Analysis $BTC :
- BTC is in a strong upward trend (+5.55%), breaking the resistance level of $98,000
- All MA lines are trending upwards, with MA20 > MA50 > MA200 indicating a solid upward trend
- RSI and Stochastic are not too high, still have room to rise
- Increasing trading volume along with rising prices is a good signal
2. Analysis of DOGE:
- DOGE is slightly correcting (-0.91%) after a series of increases
- Price action is testing the support zone of MA20 (0.37989)
- Bollinger Bands are narrowing, usually signaling a major move is about to occur
- Stochastic RSI shows signs of short-term overselling
3. Forecast scenario:
- With BTC's upward momentum, DOGE is highly likely to recover and follow
- Near target: the zone of 0.39734 (high from 24h ago)
- Far target: 0.42-0.45 if BTC maintains its upward momentum
4. Recommendations:
- With a position of 0.39-0.4: HOLD, this is a good price zone in the medium term
- New entry points:
+ Zone 1: 0.37-0.38 (support zone of MA20)
+ Zone 2: 0.364-0.37 (strong support zone)
- Set stop-loss below 0.364 to protect capital
- Take profit can be set partially at:
1) 0.397-0.40 (R/R = 1.5)
2) 0.41-0.42 (R/R = 2)
3) 0.43-0.45 (R/R = 2.5)
5. Notes:
- Closely monitor BTC's developments as there is a strong correlation
- DOGE's volume is gradually decreasing, need to be cautious
- Trading should follow a minimum risk/reward ratio of 1:1.5
- Do not all-in at one entry point, should split orders
You can adjust the entry and take profit levels depending on your risk appetite. The crypto market is very volatile, so always manage risk well.