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Yesterday afternoon someone asked if DOGE's adjustment was over. Let me explain in detail:
Since doge fell back after its last surge to around 0.44, it has been adjusting at the level of daily candlestick, with a relatively mild pullback, because the overall market of BTC has a strong rebound every time it steps back.
Has doge already reached the 8-hour Bollinger Band midline yesterday? That means the 8-hour adjustment period has been completed, and it is currently within the 12-hour level adjustment period.
Yesterday afternoon DOGE rebounded a bit, with an empty bar appearing on the 8-hour level energy column. This morning, another empty bar appeared synchronously with BTC rebounding, which indicates that the downward momentum is slowing down. However, it does not mean that the pullback has completely ended because the 12-hour MACD death cross is still opening downward and the volume is not strong.
On the 4-hour timeframe, doge has completed its movement a few days ago, and it has obtained support at the boll lower band. The position of the 4-hour boll lower band is 0.34, so the rebound started from here after pulling back from around 0.44. Why do we need to keep going long in the Bull Market? Because the 4-hour timeframe is the critical point and watershed of short-term change in market trend. If the 4H MACD does not fall below the zero axis, it will not fall deeply.
Looking at the daily candlestick level again, the candlesticks alternate between bullish and bearish, and yesterday was the fifth day of the pullback near 0.44. It closed with a green doji star yesterday. If it closes with a small bullish candle today, the pullback will be completely over and it can go up, margin replenishment at market price.
Every time the pullback reaches the 8 and 12-hour MACD, it is basically at the end of the daily candlestick adjustment, and it is about to turn upward. At this time, you can generally make a judgment in advance and prepare long positions to catch the bottom. To be safe, include the middle position of the 12-hour Bollinger Band (around 0.33650) in the Margin Replenishment range. At the same time, it also indicates that bearish traders need to escape. If the daily candlestick adjustment is short, it is safest to only take profit from the fish body, which means adjusting to the 6 and 8-hour levels.
ps: Screenshots are always blocked. Everyone can refer to the 4, 6, 8, and 12-hour MACD and Bollinger Bands charts for comparison.
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