Dog King’s positive news hard to break the triangular dilemma, 0.00042 fluctuations expose the main force’s bottom card!
This morning, under the stimulus of Musk-related positive news, the DOGE/USDT perpetual contract closed at 0.16915 on the 4-hour chart. However, the three abnormal signals in the chart are more worthy of caution:
Volume-price divergence confirmed
The current K-line trading volume is only 167 million, compared to the volume of 706 million during the same increase on July 6. This surge is like a 'paper bull'.
Death cross imminent
The distance between MA7 (0.16868) and MA30 has compressed to 0.00131, the smallest value before the plunge in June. The chart shows a one-day drop after the death cross on June 15. Even more deadly is the price stuck at:
Fibonacci 38.2% resistance level 0.16922
Watershed support 0.16800
The fluctuation space has been squeezed to 0.00115, which can be described as a dog chain choking.
Main force playing with technical positions
The 'second support 0.16400' marked in the chart highly overlaps with the Fibonacci 61.8% position 0.16433, which is precisely the starting point of the spike rebound in June. Today’s amplitude of 0.88% is surprisingly less than 1/3 of July’s daily average amplitude, suspected to be the preparatory action of the operators.
Strategy
Adjust operations according to the latest technical structure in the chart:
Current price 0.16915 has entered the 'bullish red zone'
If it breaks below the watershed 0.16800, it will trigger the triple selling pressure in the chart.
The only safe entry point: a volume breakout above 0.17225 and stabilize for 30 minutes.
Doomsday alert: When 167 million in trading volume can drive a 0.25% increase, what does that mean? — The operator only needs 2 million USD to control the market. Do you remember the fake bullish line with 250 million volume on July 5? At that time, it was also a 0.16% increase, and the result was a crash of 7.8% the next day!
Soul strike: Musk’s halo + ARK’s clear holdings + technical death cross, under these three scenarios, do you think the dog operators will kill the contract bulls first or the spot retail investors? If US stocks crash again tonight, you are welcome to my live broadcast room to witness the 'dog chain guillotine'!
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