$DOGE Holding back? Is the surge just around the corner or a bear trap?
DOGE has been struggling around 0.145 for a while, but finally, there's some movement. It has now climbed to around 0.166. In the short term, it seems like the buying interest is quite strong, but is this rebound really going to take off, or is it just a flash in the pan? I see uncertainty!
The bears haven't given up! This rebound looks lively, but it's about to hit the iron plate at 0.170-0.172. This place was previously a graveyard, with trapped positions piling up and immense pressure. Moreover, looking at the momentum of the rise, it feels a bit lacking in follow-through. The bears are definitely lurking nearby, waiting to counterattack. Remember two critical points: 0.1600 and 0.1578. If it can't even hold 0.1578, this rebound will immediately die off, rolling back to 0.150 or even lower, leaving you happy for nothing!
Bulls shouldn't rejoice too early! Of course, the short-term buying interest is indeed gaining strength, and it looks decent on the chart. But the key is, without truly breaking 0.172, anything said is just nonsense! Only if we can firmly and steadily stand above 0.172 will I believe there is potential for this wave, possibly pushing towards 0.175 or even 0.180. If it truly breaks through, it might even speed up on the way up.
My honest opinion: Don't be fooled by these few bullish candles! This position is a dragon's lair and a tiger's den; the pressure at 0.172 is like a mountain. In summary: If it doesn't break 0.172, this rebound is a bull trap set by the bears, purely a technical pullback that could be reversed at any time. Whether it's a mule or a horse will depend on whether it can get past the ghost gate of 0.172! Stay alert; this position determines if you feast or get hit!
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