Doge Update as of September 9, 2024 6:00 pm
**Bias:** Bullish
**Rationale:**
* **Breakout of downward trend:** The recent breakout above the resistance level of 0.09000 in 1 and 4-hour timeframes suggests a potential reversal of the downtrend.
* **High volume:** The breakout was accompanied by an increase in trading volume, indicating increased buying pressure.
* **Technical indicators:** The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are both moving upwards and out of oversold territory, supporting the bullish bias.
**Suggestion:**
Based on these technical indicators, I would suggest considering the following:
* **Potential entry point:** A conservative entry point could be above the resistance level of 0.09000, once it is retested and confirmed as support.
* **Stop-loss:** A stop-loss could be placed below the recent low of 0.08000.
* **Target:** A potential target could be the previous high of 0.11400.
**Caution:**
Please note that this is a technical analysis and does not constitute investment advice. Always conduct your own research and consider your personal risk tolerance before making any trading decisions.
**Rationale:**
* **Breakout of downward trend:** The recent breakout above the resistance level of 0.09000 in 1 and 4-hour timeframes suggests a potential reversal of the downtrend.
* **High volume:** The breakout was accompanied by an increase in trading volume, indicating increased buying pressure.
* **Technical indicators:** The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are both moving upwards and out of oversold territory, supporting the bullish bias.
**Suggestion:**
Based on these technical indicators, I would suggest considering the following:
* **Potential entry point:** A conservative entry point could be above the resistance level of 0.09000, once it is retested and confirmed as support.
* **Stop-loss:** A stop-loss could be placed below the recent low of 0.08000.
* **Target:** A potential target could be the previous high of 0.11400.
**Caution:**
Please note that this is a technical analysis and does not constitute investment advice. Always conduct your own research and consider your personal risk tolerance before making any trading decisions.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.