I will analyze further for Future trading $DOGE
1. Detailed Technical Analysis of DOGE:
- Bullish signal:
* DOGE is converging with MAs (9,20,50), creating a strong dynamic support area
* Price is in a confirmed uptrend channel from the bottom 0.34010
* BOLL bands are narrow around 0.38, usually leading to a breakout
- Bearish signal:
* Volume is decreasing in recent sessions
* Stoch RSI is giving a short-term overbought signal
* A slight bearish divergence is occurring on RSI
2. Intermarket analysis:
- BTC is rising strongly +5.55% is a positive catalyst
- Correlation between BTC-DOGE in the last 24 hours is quite high
- BTC breaking 98k could pull DOGE back to test the area 0.42
3. Recommendations for Future Trading:
A. If LONG from 0.39-0.4:
- Consider splitting position into 3 parts:
* 1/3 position: TP 0.405-0.41 (R/R = 1:1.5)
* 1/3 position: TP 0.42-0.425 (R/R = 1:2)
* 1/3 position: Trail stop according to MA20
- Adjust SL:
* Tight SL: Below 0.375 (Below MA20)
* Wide SL: 0.364 (Low 24h)
B. Open new positions:
- Long Setup:
* Entry Zone 1: 0.378-0.382 (MA convergence)
* Entry Zone 2: 0.37-0.375 (Retest support)
* Recommended leverage: 5-7x
* SL: 0.364
* TP1: 0.397 (R/R = 1:1.5)
* TP2: 0.41 (R/R = 1:2)
* TP3: 0.42+ (R/R = 1:2.5)
- Short Setup (if breakdown):
* Entry below 0.364 with increasing volume
* SL: 0.372
* TP: 0.35-0.34
4. Risk management for Futures:
- Do not use more than 5% of capital for one trade
- Scale positions down to average if needed
- Place OCO orders to protect profits
- Trailing stop 2% for long-term position
5. Levels to monitor:
- Strong resistance: 0.397, 0.42, 0.425
- Important support: 0.378, 0.364, 0.35
- Breakout volume needs > MA Volume(20)
6. Factors to monitor:
- BTC price action at 98-100k
- Volume of DOGE at breakout points
- Funding rate of DOGE Futures
- Volatility of DXY and SP500
Note:
- The crypto market, especially Futures, is very volatile
- Always use stop loss and do not FOMO
- Monitor funding rate to avoid high swap fees
- Consider adjusting leverage/margin when the market reverses
- Should not all-in at one point
Current overall recommendation is HOLD or slightly reduce leverage if long, wait for retest of 0.37-0.38 to consider new positions.