Analysis of the four-hour K-line chart of DOGE and unwinding suggestions.
Hello, crypto friends, I am KK, focusing on mainstream currency analysis. From this four-hour K-line chart of DOGE, we can analyze as follows:
Current market status
Consolidation and pullback phase: The price has retreated from the high point near 0.235 to 0.228, forming several long bearish candlesticks, indicating significant short-term selling pressure.
Moving average system: The price is still running above the MA30 moving average (0.23066), but has fallen below the MA7 moving average (0.23569), and the MACD indicator shows signs of a death cross.
Trading volume: Recently, trading volume has increased to 580,990,019, especially during the decline, indicating that funds are choosing to take profits at this position.
Unwinding strategy
Friends stuck at high positions (above 0.235):
It is not advisable to blindly add positions at this time; you can set a dynamic take profit and reduce positions when rebounding to the 0.233-0.235 area.
If you are heavily positioned, consider selling half of your position near 0.230 to reduce risk.
Friends stuck in the 0.225-0.230 range:
This position is relatively safe; maintain patience and hold.
Set a stop-loss below 0.220 to protect your capital.
Friends who are empty and want to enter the market:
It is recommended to wait for two signals: first, the price returns above the MA7 and stabilizes; second, it pulls back to around 0.220 to form support.
Do not chase the price up or panic sell; patiently wait for right-side trading opportunities.
Short-term trend prediction
DOGE is currently in an adjustment phase, but the overall upward trend has not been broken. The key is whether it can hold the MA30 support line; if it fails, it may further drop to the 0.215-0.220 area. It is recommended that everyone manage their positions well and prioritize risk management, as the volatility in the cryptocurrency market is high, and safety comes first!
Remember: Market trends are born in despair, rise in hesitation, and die in madness. It's not yet a time of despair, but don't be blindly optimistic either!
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$DOGE
