DOGE Four-Hour Candlestick Chart Analysis and De-risking Suggestions
【Current Trend Analysis】
Hello, crypto friends! From this four-hour candlestick chart, DOGE is currently in a clear upward trend, rising from $0.17 all the way to the current $0.25687, with a considerable increase. Recently, the price has retraced after breaking through previous highs, but overall, it remains in an upward channel.
【Key Technical Indicator Interpretation】
Moving Average System: The price is steadily above the MA7 and MA30 moving averages, and the short-term trend remains strong.
Trading Volume: Recent trading volume has contracted but remains at a healthy level, indicating that upward momentum is still present.
Candlestick Patterns: The latest few candlesticks show a fluctuating upward trend, with bullish forces still dominating.
【Tonight's Trend Prediction】
Based on current technical analysis, DOGE is likely to maintain a fluctuating upward pattern tonight, but the range of increase may narrow. The main support range is at $0.235-$0.240, which has been the low point for several recent retracements and is also a strong support area. The resistance above is in the $0.260-$0.265 range. If it can break through effectively, it may aim for higher price levels.
【De-risking Strategies】
For trapped positions:
Low-position long orders: Congratulations, you are already in a favorable position. It is recommended to continue holding, targeting around the previous high of $0.265.
Trapped long orders:
If the cost is below $0.23: It is recommended to hold at least half of the position, and the remaining can be closed near $0.245 to lock in some profits.
If the cost is between $0.235-$0.245: You can hold and observe, setting $0.23 as the stop-loss level.
If the cost is above $0.245: It is recommended to set a stop-loss at $0.235, a take-profit at $0.255, and adopt a rolling operation.
Risk Control Suggestions:
Regardless of the position, be sure to set a stop-loss level, recommended below $0.235.
You can use a "partial take-profit + trailing stop-loss" strategy to lock in some profits while not giving up greater upward space.
Pay attention to the opening of the U.S. stock market and any developments related to Musk tonight, as these factors often affect DOGE's short-term trends.
Remember: There are no absolutes in the crypto world; even the best analysis is only a reference. Staying calm and adhering to discipline is the key to long-term survival!
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