Peter Smith
⬤ Dogecoin is taking a breather after bouncing back sharply, forming what traders call a bull flag on the 4-hour chart. This pattern typically signals more upside could be coming, with the next stop potentially around $0.12.
⬤ The chart reveals a classic setup: a quick spike upward followed by a gentle downward drift inside parallel lines. DOGE is basically cooling off inside this channel after its recent climb, consolidating before the next possible move.
⬤ That $0.12 target isn't random—it lines up with a resistance zone from an earlier trading range. If the pattern holds together, price could push toward that level where previous consolidation created a ceiling.
⬤ Right now, DOGE sits at an important technical spot. How it reacts when it tests that old resistance zone could determine whether the rally continues or stalls out.
Peter Smith
