DOGE at a Crossroads: Big Move Ahead?
2025-02-05
Category: None

DOGE is currently forming a descending channel pattern, making the price action increasingly interesting.

If further panic selling occurs or a deeper retracement takes place, DOGE is likely to bounce from the strong support zone between $0.16588 and $0.17704 (Green). However, for confirmation of a bullish move, we need to see a bullish CHoCH, a W pattern, or an inverse head & shoulders forming on the lower time frames.

If DOGE closes a candle below this key support zone, the bullish outlook becomes invalid. In that case, it's best to stay on the sidelines and wait for clearer price action rather than forcing a trade.

Patience and discipline are key to long-term profitability. Avoid rushing into trades—wait for high-probability setups and stick to well-defined trading strategies.
