DOGE Ready to Soar Breakout Confirmed with Consolidation Above
2025-01-17
Category: None

Breakout Confirmed 
The price has broken out of the symmetrical triangle pattern on the 4-hour timeframe, indicating a bullish momentum.

 Higher Time Frame Alignment 
If higher time frames (like daily or weekly) are also showing bullish signs, it strengthens the breakout's validity and suggests the trend is likely to continue upwards.

 Consolidation Above Trendline 
The price is consolidating above the previous resistance (upper trendline), which has now turned into support.
This consolidation is a healthy sign of market strength, as it allows buyers to gain control before the next leg up.

 Next Move 
A breakout from this consolidation phase would confirm the continuation of the uptrend.
Immediate targets are $0.42 and $0.45, with a potential to move toward $0.50 if bullish momentum sustains.

 Entry Strategy 
Wait for a bullish breakout from the consolidation with increased volume for a safer entry.
Place a stop-loss just below the trendline or consolidation zone.

 Risk Management 
Maintain proper risk-reward ratios to account for any potential pullbacks.
