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After the price of Bitcoin, the price is below the level of $ 104,000 during the weekend, the The Dogecoin price has been postponed Below $ 0.2 again. This decision naturally shocked the community because the $ 0.2 held for a long time. However, using the 4 -hour command block (OB), a cryptographic analyst explained what is happening with the price of Dogecoin, why the decline occurred and where it could then be directed.
The Dogecoin price has experienced liquidity scanning
Smart Flows of Crypto analyst, on the tradingView website, noted An interesting development on the Dogecoin price table. This showed a clear delimitation to explain why the price of the same piece fell below the level of psychological support of $ 0.2, and it was summed up as clean as a liquidity scan.
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The Crypto analyst uses the 4 -hour command block on the Dogecoin price table to explain it, just from the price level of $ 0.22. It saw a liquidity scanning Thanks to the difference in fair value (FVG) at 0.5 fibonacci, perceiving the support of $ 0.2. This movement, explains Smart Flows, was in no way emotional and was more a “mechanical” movement, which suggests that it was designed.
The result of this liquidity scan is that there has now been a resetting Feeling surrounding the price of dogecoinPrepare the ground for a potential reversal. If this is the case, then Dogecoin can be seated at the dawn of what could be the next major rally greater than $ 0.2.
What to expect from here
According to Crypto analyst, Dogecoin is now seated in a 4 -hour request for request block It is in confluence with the difference of fair value (FVG) greater than $ 0.2. This is the level of 0.20928 of 0.20928 the first “key reaction”, and the analyst highlights two possibilities for the memes piece here: either the price continues to calm or consolidate begins at this level.
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Basically, the Dogecoin price must be able to beat the first major test at $ 0.209 before rising higher from here. This means that it must complete a cleaning FVG supply To enter the liquidity above. After that, the real test begins at $ 0.22094, where the next 4 -hour order block is located. The analyst explains that cleaning the FVG means that a continuation model is at stake.
However, it is always possible that the The Dogecoin price is rejected before He is able to erase the FVG above $ 0.2. In this case, it could point out a new downward trend for Altcoin. “If we reject early – it tells me that the distribution begins, and I will prepare a secondary scan less than 0.18 to retest the 4h obtained more than 0.16387,” concluded the analyst.
Dall.e star image, tradingView.com graphic
