【Technical Analysis】
The DOGE/USDT 1-hour K-line is experiencing a key direction selection after the Bollinger Bands contracted! The current price is close to the key watershed of 0.219. This position is not only the area of concentrated chips in the early stage, but also the core battlefield of bullish and bearish sentiment.
Golden cross signal but momentum divergence: Although MACD shows a golden cross, the momentum column has shrunk slightly, indicating that the bulls need to increase volume and accelerate to effectively break through.
If it holds steady at 0.219, the upward target will be 0.225 (short-term pressure) and 0.234 (Bollinger upper band + previous high pressure).
Downside risk warning: If 0.219 is breached, the bears may follow suit and push the price down to the 0.207 support level (38.2% Fibonacci retracement level), or even test the 0.200 psychological level.
The Bollinger Bands are about to close and change: the 4-hour Bollinger Bands have shrunk extremely, indicating that there will be violent fluctuations in the next 6-12 hours. Retail investors need to be wary of the market!
【News Catalysis】
Bitcoin drags down the meme sector: BTC fell below $114,000 today as hawkish Fed minutes triggered a market-wide correction. If BTC fails to hold support at $112,000, DOGE could fall in tandem.
Expectations for the altcoin season are rising: The "altcoin season" may start in September, and funds may rotate from BTC to meme coins such as DOGE.
The current Bitcoin dominance (BTC.D) has dropped from 65% to 59%, with clear signs of funds flowing into altcoins.
Musk's actions are foreshadowed: Although there has been no direct call for orders, rumors continue to ferment about Tesla and Platform X integrating DOGE payments, and any news could trigger buying.
【MiG’s View】
Long script:
If DOGE breaks through 0.219 with large volume and BTC stabilizes above 112,000, the target will be 0.225→0.234, and the ultimate charge level will be 0.245 (Fibonacci extension level).
Key signal: The 4-hour closing price stabilized at 0.219 + the long leverage ratio of the entire network increased sharply.
Short script:
If 0.219 is repeatedly tested and then broken, the target will be 0.207→0.200, but we need to be wary of the market maker's pin rebound (a characteristic of meme coins).
Risk trigger point: BTC falls below the $110,000 support level + whale addresses transfer large amounts of assets to exchanges#杰克逊霍尔会议
Blind trading = losses! Follow MiG and learn professional thinking and strategies, and say goodbye to "trading by gut feeling"! Click on the profile picture to start your change!