🔥🔥Trade Analysis 56: $DOGS - Bottom Found or Temporary Relief?

As mentioned in my previous post, DOGS has shown signs of finding its bottom. Although the price dipped lower on September 9th, I advised holding based on the clear RSI divergence (lower price with higher RSI). Today, let's explore DOGS' new support and resistance levels to analyze potential price scenarios and my trading plan.

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1. Bullish Breakout:

If the price successfully rises and closes above $0.00118 with high volume, it could continue to climb toward $0.00133 or even reach a new all-time high (ATH) by surpassing $0.00166.

Consider entering a position when the price exhibits this breakout. For existing DOGS holders, maintaining a hold position is recommended.

2. Bearish Drop:

Alternatively, if the price drops below $0.001 with high volume, a further decline to $0.00091 or lower is possible.

Pay close attention to RSI and volume during this potential drop. If RSI remains higher and volume is lower than on September 9th, the price might be consolidating its base (bottom). This could present a good opportunity to buy low.

That's it for today $DOGS Trade Analysis. I hope this analysis help you make smarter trade decision.

Trade Smarter! Peace Out ;)

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