Friends, I am Hongcai. Today we won't talk about vague things, let's get straight to the point: can DOGE still be played? What's next, up or down? Should you hold or flee if you have coins? Can you still enter if you haven't yet? Don't worry, I'll explain it clearly step by step.
news
DOGE current price 0.1282, up 1.72% in 24 hours, indeed rebounding in the short term. But you see the 7-day drop of -8.68%, and over 20% drop in 30 days, what does this indicate? Short-term rebound does not change the long-term downtrend. It's like a person who has a high fever temporarily cooling down, but the root cause of the illness has not been removed.
Looking at the position data: 6.36 million long positions and 2.6 million short positions within 24 hours, it seems the bulls are dominant, right? But if you extend the time to 12 hours or 4 hours, the proportion of short positions is quietly increasing... This means that large funds are pulling back while pushing the price up during the rebound.
Technical analysis
From the four-hour chart, the MACD yellow and white lines indeed show signs of a golden cross below the zero line, which is a short-term bullish signal. But pay attention to two key details:
The contraction rebound without volume is like a car going uphill without gas; how far can it go?
Both RSI and MFI are in the observation zone, and large funds are not fully entering the market.
Hongcai's viewpoint:
A rebound is an opportunity to escape, not a reason to chase! This rebound is a trap for the bulls! The reason is simple: after the main force exhausts its long positions, it needs to push the price up to explode the short positions and wait for retail investors to follow in; then they will dump. So, don't be fooled; the rise is not to help you make money, but to trap you at the peak!
What should players do?
Open a short position around 0.134, and set a stop loss; if it stabilizes around 0.110 after a drop, you can cautiously buy the dip for a short-term rebound. Remember, quick in and out!
Just one sentence now: Don't touch it! You are not the opponent of the main force; you will lose nine times out of ten in this market. If you really want to participate, wait for two signals: either a volume breakout above 0.134 or a drop to around 0.11. At other times, just watching is winning!
The biggest taboo in the cryptocurrency market is: bullish when it rises, bearish when it falls. DOGE is currently in a rebound phase within a downtrend; understanding this larger direction will prevent you from making fatal mistakes.
Wealth does not come through hasty doors; making money in the cryptocurrency market relies on knowledge and patience, not shortcuts or luck! Follow Hongcai and participate in every attack by Hongcai! Hongcai will announce the specific entry time and real-time news every day at Caishen's house!#加密市场观察 $DOGE
