DOGE has broken out from the previous triangular consolidation pattern. After a false breakout of the previous high, it has formed a rectangular oscillation consolidation range. Trading within the range is relatively simple and clear. The intraday rebound is relatively weak, with highs not reaching half of the previous day. Subsequent focus should be on price behavior when retesting the lower edge of the range as a prerequisite for entering trades.
Hourly level positions to watch
Support level
First support: 0.4
Second support 0.388
Third support 0.371-0.366
Pressure level
First pressure level 0.42 (tested once, effectiveness will decrease upon retest)
Second pressure level 0.44
Third pressure level 0.47-0.48
Trading emphasizes going with the trend, with big trends being followed and small trends being countered. When the trend comes, ride the wave; be flexible in turning when the trend reverses. Resisting the trend is like a mantis trying to stop a car, disrupting your mindset and trading rhythm.
At night, with the fluctuations of the US stock market, if there are too many fluctuations, remember to take profits frequently and decisively cut losses; holding positions has no meaning.
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