Recently, DOGE has continued to weaken after being blocked near 0.25973, and the current price is fluctuating back to the 0.232 area. From a technical perspective, the bears are gradually gaining the initiative, and the short-term rebound is weak; the opportunity to establish short positions may have arrived!
Daily chart analysis
Trend structure: The recent high of 0.25973 could not be effectively broken, DOGE has shown multiple pullbacks after rising to high levels, indicating significant top pressure. Currently retreating below MA7 and MA30, short-term bearish.
Moving average system: MA7 (0.23499) and MA30 (0.23318) show signs of forming a dead cross;
The daily trend is bearish, top confirmed, the probability of weak fluctuations is higher.
4-hour chart analysis
Structural observation: After retreating from the mid-May high, DOGE has continuously adjusted weakly, forming a lower high structure.
Trading volume: Increasing bearish candles during the fluctuation and decline process, with bearish strength continuing to grow.
The 4-hour chart indicates a clear short-term bearish pattern, and the rebound is difficult to sustain, with bears gradually taking control.
1-hour chart analysis
Short-term dynamics: Recently, the small-scale trend presents a 'head and shoulders' pattern, with the right shoulder having broken down, the bears strongly suppressing short-term rebounds.
Moving average support/resistance: MA7 (0.23258) and MA30 (0.23586) have formed a dead cross, and the price is running below them;
Currently a slight rebound but still under pressure from the MA30 line; if it cannot break through, it will test lower again.
The short-term bearish pattern continues, and the probability of further downward fluctuations in the short term is greater.
Today's DOGE short position strategy recommendation
Opening position 0.231~0.233
First take profit level 0.2275
Second take profit level 0.226
Stop loss level 0.2367
DOGE's upward momentum is insufficient, multiple attempts to rise have failed, short-term bearish advantage is obvious, currently a key window for establishing short positions!
