DOGEyyy-Doo, Where Are You🐕

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📉 DOGE has been overall bearish trading inside the falling red channel and it is currently approaching the lower bound / red trendline.

Moreover, the 0.05 - 0.055 is a strong demand zone.

🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green demand and lower red trendline acting as a non-horizontal support.

📚 As per my trading style:
As DOGE approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

🔎 From a long-term perspective, for the bulls to take over, we need a break above the last major high around 0.084 highlighted in blue.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Comment:

As per my last analysis (above), DOGE rejected our 0.055 support zone and traded higher.

For the bulls to remain in control, and take over from a long-term perspective, we need a weekly candle close above the last major high highlighted in blue at 0.084.

Meanwhile, the bears can still take over for one more correction.