Technical analysis by MadWhale about Symbol DOGE on 5/21/2025

A giant green candle pops up on your chart… You get excited, jump in — and boom, price dumps!Fake candles are one of the market’s most psychological traps.This breakdown shows how to avoid getting tricked — and even profit from them!Hello✌Spend 3 minutes ⏰ reading this educational material.🎯 Analytical Insight on Dogecoin:Dogecoin has posted an impressive 60% rally in recent weeks and is now testing the key psychological resistance at $0.25. A confirmed breakout from this level could unlock at least 22% further upside, aligning with a breakout above the descending channel toward the $0.28 target. Key daily support, Fibonacci confluence, and a rising trendline are also in play. 📉🚀Now, let's dive into the educational section,🧠 The Psychology Behind Candle TrapsIt all starts when the market shows a sudden sharp move. A strong bullish candle — full of hope — shows up out of nowhere. But guess what? Most of the time, it’s just bait.Smart money loves this moment — when retail traders think a moonshot is coming.So never trust the candle’s look alone. Look deeper for confirmation.🛠 TradingView Tools to Catch Fake Candles📊practical tools inside TradingView that help detect false signals.Set these up and test them live in your charting flow:Volume ProfileShows you where volume is really happening. No volume = no trust.Session Volume HDReveals hidden session volume. If a big candle has weak session volume, that’s a red flag.Relative Volume (RVOL)Tells you if current volume is above/below normal.Fake candles often come with volume mismatch.Candle Close TimerShows how long until a candle closes.Wait for that close — fake candles often flip last minute.Multiple Timeframe AnalysisCheck higher TFs before trusting the move.Many fake candles trick you in low TFs.Apply these directly inside your TradingView layout — it’s a game changer.🔍 Real Candle vs Fake CandleA real candle usually forms at a key support/resistance level with solid volume.A fake one? Often pops up in a random zone, low volume, and before higher timeframes confirm.Pro tip: Wait for the candle to fully close — then check if volume + structure supports the move.📉 Rookie Mistake AlertNew traders often jump in on the first big candle they see.Why? Because they want to be “early” and catch the move.But in markets, patience wins — not speed.Follow footprints, not fireworks.🎯 Three-Step Filter For Fake CandlesHere’s your anti-fake-candle checklist:No volume? No entry!Confirmation over assumption. Use indicators like RSI, divergence, or MAs.Always check the higher timeframe. Low TF = high deception.🔄 Market Makers Love These GamesFake candles are a classic weapon for market makers.They know exactly when emotional traders will FOMO in.These aren’t just candles — they’re emotional traps.Study the trap, not just the move.🧩 Final Takeaway & SuggestionFake candles aren’t just technical — they’re psychological.Use the right tools, wait for confirmation, and don’t let your emotions lead.Start your next analysis with a mental filter, not just a visual one.always conduct your own research before making investment decisions. That being said, please take note of the disclaimer section at the bottom of each post for further details 📜✅.Give me some energy !!✨We invest countless hours researching opportunities and crafting valuable ideas. Your support means the world to us! If you have any questions, feel free to drop them in the comment box.Cheers, Mad Whale. 🐋