Dogecoin Morning Analysis:

Since the end of the election, this cryptocurrency has been continuously climbing and breaking through, with its popularity remaining high. Compared to other altcoins that generally show a trend of rising and then falling back, Dogecoin has risen from a price level of 0.17 to the current 0.4, an increase of nearly more than double, and it has successfully stabilized around 0.4. From the perspective of trading volume, despite the heavy selling pressure above, its price has never fallen below the 20-day moving average, which indicates that the bullish force is relatively strong. The bulls and bears have been in a stalemate for a long time but have not been able to break through. Based on technical analysis, it can be inferred that the bulls have accumulated sufficient strength, and there is a high probability that an upward rebound trend will occur subsequently. The attached chart shows the 15-minute short-term trend. If observed from the 4-hour line, it can be seen that there are many long lower shadows below, meaning that whenever the price drops, it is quickly pulled back up. Therefore, it is recommended to adopt a strategy of chasing longs, and I won’t elaborate further, just provide the trading strategy directly.

Go long at a price level of 0.4, and if the price falls back to 0.39, then increase the position.

You can moderately use small leverage to enter and hold long-term, and you can still increase your position according to the market conditions later.

Friends, get ready, and let’s start the trading journey on Monday.

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