- Weekly Bullish Outlook: Dogecoin shows a strong uptrend but has yet to hit a new ATH compared to other leading altcoins
- H4 Liquidity Dynamics: The recent price action might suggest a liquidity grab rather than a structural break
- M30 Short Opportunities: Watch for interesting supply zones close to liquidity pools for potential short setups
Dogecoin continues to be a focal point in the crypto market.
While its weekly timeframe suggests a strong bullish trend, it hasn’t yet hit a new all-time high (ATH), unlike its counterparts such as Solana and XRP.
Let’s dive deeper to analyze the potential price movements across different timeframes.
Weekly Timeframe: Bullish Yet Static
On a macro level, Dogecoin remains bullish. However, despite the overall positive sentiment, it’s lagging behind other top coins that have already marked new ATHs.
This could suggest an upcoming rally—or perhaps a need for consolidation before further upward movement.
H4 Timeframe: A Closer Look at Market Structure
Zooming into the 4-hour chart, the structure may appear bullish at first glance.
For some traders, the wick of a recent high might signify a break of structure. However, the speed of the subsequent drop raises questions.
Personally, I view this movement as a liquidity grab rather than a true structural break. A liquidity grab occurs when the price spikes briefly to trap traders before reversing direction.
M30 Timeframe: Potential Short Opportunities
On the 30-minute chart, there are shorting opportunities in some interesting supply zones, particularly those close to liquidity pools.
These areas might provide setups for traders looking to capitalize on downward movements.
One such example is highlighted in the attached image (imagine a supply zone marked near a cluster of price action).
What’s Next for Dogecoin?
While the overall trend is bullish, the near-term price action is uncertain. Potential scenarios include:
- A continued rise, breaking previous highs and targeting new ATHs.
- A short-term retracement to grab liquidity before resuming the uptrend.
Final Thoughts
Remember, the crypto market is highly unpredictable, and scenarios outlined here are possibilities, not certainties. Always trade with caution and base decisions on your own analysis.
Follow Bitcoinsensus daily for quality analysis of top cryptocurrencies like Bitcoin, Ethereum, XRP, Solana, and Dogecoin. Stay informed and ahead in this dynamic market! 🚀
Disclaimer: This content is for informational purposes only and not financial advice.
