$BTC $DOGE/USDT

Part 1

1. Price Action Analysis

- The price is currently at $0.39102, which is close to the 24-hour high of $0.39140, showing a strong bullish push.

- Bounce from $0.33572 (24-hour low) indicates a reversal of the previous downtrend, and the price has formed higher lows in the short term.

2. Moving Averages

- Short-Term (MA(7)) = $0.34950 :

- The price is significantly above the MA(7), indicating strong upward momentum.

- A pullback towards MA(7) could act as a short-term buying opportunity.

- Medium-Term (MA(25)) = $0.35714:

- The price breaking above the MA(25) confirms bullish strength.

- If the price retraces, this level may serve as a critical support zone.

- Long-Term (MA(99)) = $0.38410 :

- The price is trading above the MA(99), signaling a potential trend reversal from bearish to bullish on a larger scale.

3. Volume Analysis

- High Volume Spike :

- The volume spike accompanying the recent upward movement is a positive sign, indicating strong participation by buyers.

- Sustained high volume will be essential for the uptrend to continue.

- If volume declines while price rises, it could signal weakness or a potential reversal.

4. Key Support and Resistance Levels

Support Levels :

- $0.38410 (MA(99)) : Immediate support if the price pulls back.

- $0.35714 (MA(25)) : Secondary support level where buyers may step in.

- $0.33572: Critical swing low and strong demand zone.

Resistance Levels :

- $0.39572 : Immediate resistance; price rejection here would indicate a potential pullback.

- $0.43408 : Next major resistance, a key level from recent highs.

*5. Indicators-Based Analysis

Relative Strength Index (RSI) :

- RSI is likely approaching or crossing overbought territory (70) due to the strong upward movement.

- Watch for potential bearish divergence (higher price, lower RSI) as a sign of weakening momentum.

#MarketPullback #TRUMPCoinMarketCap