DOGE Dogecoin $0.39, can it rise further?
Hello everyone, I am San Ge, let's talk about Doge. We have discussed the fundamentals many times, interested friends can refer to the past.
Today we will focus on the technical aspects, to see the current trend of Doge, and whether there is a high possibility of a significant rise in the future.
I am analyzing based on the 'Qianlong Battle Method'. From the weekly chart, this round of Doge's bull market started breaking out from the bottom on December 4, 2023. After the breakout, it retraced, and in February 2024 it welcomed the first round of the upward trend.
The small market ended on March 25, 2024, and then retraced again to the bottom. We are now in the second wave of the small market.
The previous movements were healthy with increasing volume, and the price broke the previous high. However, this week's weekly close has shown signs of bullish fatigue, with strong pressure signals above.
From the short-term daily chart, I mentioned once on the 14th of this month that the risk had appeared. Now it has been validated that this round of daily movement has ended.
Next, the probability of a fluctuation and correction is very high. As for whether the bulls will gather strength again after the correction, we need to continuously track and observe whether the bulls still have the strength.
At this moment, whether to escape the peak, enter the market, or wait and see, you need to find the answer from within yourself. What level of trading are you doing? Can you understand the market in the future? Do you have a trading strategy to protect profits and control risks?
Everyone's understanding is different, and the ability to understand cannot be conveyed to someone through a single answer. What others tell you is just temporary; the market is changing in real-time.
Judging the market is like solving a case; no one knows what evidence will appear next. So, all kinds of imaginations about what will happen in the future, such as reaching $1, are merely guesses.
We cannot just rely on guesses to recklessly invest our hard-earned money, as such rash investments will only lead to losses.
You can have countless speculations about the future, but the important thing is to have the ability to track the market in real-time, find a solid basis, and be able to hit the brakes when risks appear, and recognize opportunities when they occur.
Otherwise, all the guesses are just in vain, exhausting your spirit and ultimately losing in your own fantasies.
