Analysis of chart $DOGS timeframe H4

🔥DOGS is currently in a medium-term uptrend, indicated by higher lows and higher highs. The nearest resistance area is $0.0008343, and the strong support area is around $0.0007217.

🔥RSI Indicator:

The RSI is at 69.39, approaching the overbought zone. This may signal a potential short-term correction before continuing the uptrend. However, the RSI line remains above 50, indicating that bullish momentum is still strong.

🔥Moving Averages (MA):

The MA lines are crossing upwards, supporting the uptrend. This is often a signal for continued price increases.

🔥Trading Volume:

Based on price action, recent trading volume has increased at the resistance area, indicating that buying pressure remains dominant.

⭐Trading Plan

1. Trade with the uptrend:

Entry: If the price corrects to the support area $0.0007217 - $0.0007506, this is a reasonable area to consider entering.

SL: Set the stop-loss at $0.0007, below the important support area to protect capital.

TP: Set a short-term target at $0.00085 - $0.00088, corresponding to the next resistance areas.

2. Breakout strategy:

ET: If the price strongly breaks through the resistance area $0.0008343 with high trading volume, consider buying with the trend.

SL: Set at $0.00082, to avoid risk if the price reverses downwards.

Target: Aim for the price range 0.0009 - 0.00095, consistent with the long-term uptrend.

3. Risk management notes:

Only use 3-5% of capital for each trade to minimize risk.

💥Conclusion

DOGS is in an uptrend, but caution is needed with short-term correction signals as the price approaches the resistance area.