- Last analysis accurately predicted DOGE’s move from sweeping lower liquidity to targeting liquidity above
- Current market dynamics show DOGE leaving small liquidity above, with two potential supply zones in focus
- Liquidity below still poses risks, urging careful risk management and strategic decision-making
In our last article on Dogecoin (DOGE), we explored how higher timeframes revealed liquidity sitting both above and below the price.
Key supply and demand zones were highlighted, offering potential opportunities. So, what did DOGE do next? The price swept the liquidity below and made a direct push upward toward the liquidity above.
This is a positive move for our analysis, as the remaining liquidity below now becomes a potential target for future price action.
Breaking It Down on the M15 Chart
Zooming into the M15 timeframe, we see the price leaving behind some minor liquidity above. This opens up interesting scenarios:
- Selling Opportunities: Two supply zones above stand out as potential selling areas. The price reaching these zones could trigger a reaction, making them worth monitoring for short trades.
- Cautious on Buying: Buying isn’t highly recommended right now due to the abundance of liquidity still sitting below. That said, for scalpers looking for quick opportunities, there’s a demand zone beneath the current price that shows some promise.
Trade Smart, Stay Prepared
As always, it’s crucial to remember that the market doesn’t owe anyone anything. While these scenarios are well-informed possibilities, they’re not guarantees. DOGE can still surprise us by moving in unexpected ways.
Whether you’re a day trader, scalper, or long-term investor, flexibility and proper risk management are essential. Keep an eye on the liquidity dynamics, and adapt your strategy accordingly.
Disclaimer: The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions.
