'Dogecoin doesn’t look at Musk, better to go home and sell sweet potatoes!' To all the veteran crypto traders, I am your Zhang Tianshi. Today, let’s analyze the 4-hour K line of DOGE/USDT, combined with the freshly released news, to see how to play with this 'mad dog' today.
First, look at the market: it has dropped from a high of 0.15130 and is now firmly stuck at this support level of 0.11960, as if it has been pressed down and finally managed to hold up its knees. Those in the know understand that this position is the 'bull trench' we drew earlier. Just yesterday morning, some contract players went long at 0.12944 and got trapped. Now, as the price tests the support, it has become an opportunity to buy at a bargain. Looking at the indicators: the RSI is at 27.95, and the KDJ's J line has also dipped to 20.61, both of which are in the 'oversold zone'. It’s like a spring that has been compressed to the bottom, and there isn’t much force left to push it down further; the MACD's green bars are getting shorter, indicating that the short sellers are already exhausted and gasping for breath, while the bulls are secretly testing the waters.
Combining today's news: last night, Musk spoke on the X platform, saying, "The stable inflation rate of Dogecoin is a feature, not a bug." What does this mean? In simple terms, it's a show of support for Dogecoin, telling the market, "The inflation design of this coin is intentional, not a flaw," which is like giving retail investors peace of mind. Do you remember that incident last October? Musk shared a tribute image of the Shiba Inu KABOSU, and Dogecoin surged by 15%. Although today's remarks aren't as explosive, they're enough to give the bulls a bit of breathing room. Additionally, the overall sentiment in the crypto market today is a bit panicked, with Bitcoin fluctuating around the 90,000 mark and 130,000 people facing liquidation, but Dogecoin is stabilizing at a support level with reduced volume, indicating that funds haven't completely exited and are waiting for a counterattack.
My personal judgment: today's pullback to support is a "golden pit," not a "guillotine." Looking at the Bollinger Bands on the 4-hour chart, the lower band has flattened out, and the momentum from the previous sharp declines has been exhausted. Next, it depends on whether we can break through the resistance level at 0.12433. If we break it, it's like opening the gates upwards, aiming directly for the target of 0.2; even if we can't break through, as long as we hold the support, we can still make a short profit. Last December, Dogecoin also lingered around 0.12 for 3 days before shooting up to 0.18; history is always astonishingly similar, it just depends on whether you dare to follow.
Finally, let me say something heartfelt: what we're playing in the crypto world is the heartbeat, and Dogecoin is even more of an emotional amplifier. If you dare to go all in at the support level today, you might reap the rewards tomorrow; but if you hesitate and wait to chase after the breakout, you might only be left with the soup. I've already built half a position around 0.11960 today, just waiting for the whale to pump the price. Next, let's keep an eye on 0.12433; if it breaks, we'll add to our position, and if it doesn't, we'll cut losses without hesitation.
Dear friends, did you bottom fish today or are you waiting on the sidelines? Leave a comment in the discussion area, and let's keep an eye on the whale together! If you think my analysis is solid, give it a like and share; later, I'll prepare a key level monitoring table for Dogecoin to help you navigate without getting lost!
A twelve-year journey in finance, a unique guide from a pioneer in the crypto world: gain insights into the market, move steadily forward, and pay attention to how Master Tian teaches you to grow steadily. Investment is fraught with risks and opportunities; blind operations are a major taboo in the crypto world!
