Key Indicators
1️⃣ DOGS/USDT Price Fluctuation
- Price is trending at 0.0007805 with a 6.38% decrease.
- Recent candles show a sideways trend, signaling a possible consolidation.
2️⃣ Moving Averages (MA)
- MA(5): 12,705,865 and MA(10): 14,277,053.
- The short-term MA(5) line is below the long-term MA(10), indicating short-term bearish momentum.
- This suggests that in the short term, the price may continue to fall unless the MA(5) crosses above the MA(10), which could signal a reversal.
3️⃣ MACD (Moving Average Convergence Divergence)
- DIF: 0.00000001, DEA: 0.00000002 and MACD: -0.00000001.
- MACD is negative, indicating bearish momentum.
- The MACD line is slightly below the signal line, but both are very close to each other. This could indicate a possible change in momentum soon, but for now, bearish sentiment prevails.
4️⃣ Volume
- There was a significant increase in volume before, indicating strong activity during that period.
- Currently, volume has decreased, indicating lower trading interest.
5️⃣ Order Book Sentiment
- 59.63% Buy vs 40.37% Sell.
- Market sentiment appears largely bullish despite the price drop. This could mean buyers are preparing for a possible price recovery.
Recommendation
Long Entry
- Entry: Enter a buy order if price holds support around 0.0007773 or shows a strong bounce from current level with bullish candlestick patterns.
- Stop Loss (SL): Place a stop loss just below 0.0007745, the next visible support level, to minimize risk.
Take-Profit(TP)
- Short term profit target at 0.000801 (previous high on chart).
- A more positive target could be 0.000810, if price breaks the resistance.
Short Entry
- Entry point: Enter short sell order if price drops below 0.0007745 with volume and confirms bearish candle.
- Stop Loss (SL): Set the stop loss slightly above 0.0007850, a level that has recently shown some resistance.
Take-Profit (TP)
- Short term profit target at 0.0007650 or lower.
- Watch for significant sell-off if bearish sentiment increases.
Transaction Time
- Long term: Hold for 1-3 days, aiming for a breakout of previous resistance. Closely monitor MACD for signs of strengthening bullish momentum.
- For short term: Hold for a few hours to 1 day, as short term bearish sentiment may push prices lower before recovering.
If the Signal is Not as Expected
- If you are Long and the price drops below the stop loss (0.0007745), exit the trade to minimize your loss. Wait for the next support level or reversal signal.
- If you go Short and the price moves above the stop loss (0.0007850), exit the trade and avoid further losses. You can re-enter when a more solid signal appears.
Final Advice
As the market shows mixed signals with slightly more buying demand but overall price falling, be cautious with entries. It is important to watch for confirmation of trend reversal or continuation. Use tight stop loss to minimize risk, especially in these volatile conditions.
