DOGE/USDT – Positive Signs, But Caution Required

Dec 5, 2024

DOGE has shown resilience during the recent market decline, holding steady despite the broader downtrend. This is a positive sign of underlying strength.

However, we’ve touched the support band multiple times, which raises the possibility of a liquidity grab below this level before a potential continuation upward. Traders should remain cautious and look for confirmation of a move back above the support after any potential liquidity sweep.


Key Observations:

• Support Band: Repeated tests may indicate weakening; watch for a potential break and recovery.
  
• Liquidity Grab: A dip below support could act as a springboard for the next move higher.
  
• Confirmation Needed: Wait for price action to reclaim the support level before entering.
  
• Patience is key here. A liquidity grab could provide an excellent opportunity for long positions if recovery signals are strong.
  

I keep my charts clean and simple because I believe clarity leads to better decisions.

My approach is built on years of experience and a solid track record. I don’t claim to know it all, but I’m confident in my ability to spot high-probability setups.

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