$DOGS Currency Analysis on the Hourly Frame:
1. Moving Averages (MA):
The red line (MA7): moves below the blue line (MA25) and the yellow line (MA99), indicating short-term selling pressure.
The medium and long lines (MA25 and MA99) indicate a continued downtrend, as the current price is below both lines.
2. Relative Strength Index (RSI):
RSI is at 46, which means the market is neither oversold (below 30) nor overbought (above 70). The market is in a neutral zone, with a slight downward slope.
3. MACD Indicator:
The red bars indicate a continuation of the downtrend.
The MACD and Signal lines are still in the negative zone, which means weak upward momentum.
My recommendation to you:
If you are planning to trade, wait for strong reversal signals such as:
MACD crossing into the positive zone.
RSI rises to levels above 50.
Price moves above MA25 or MA99.
For scalping: If a bounce appears on short timeframes (like a strong bullish candle), you can enter short-term trades with a close stop loss.
For long-term: It is better to wait for the market to stabilize and break clear resistance levels.
