DC Daily Report: Bears Build Confidence. NEXT: Break Out Or Trap?
DOGE/USDT: Review + Close Of The Day
◘ Bull hammer at the open
◘ Sideways for 6 hours
◘ Bulls break out into a triple top where Bears test the open
◘ Bears went short above the average, sell the close, sell the low for 3 to 4 legs
◘ Bulls attempt a reversal at the end of the day
◘ The best the Bulls get may be a scalp at the moving average into a trading range
DOGEUSDT 15minute candlestick chart, 20 Exponential Moving Average, Volume Bars Source: dcworldnews, tradingview charts
DOGEUSDT Daily Chart
◘ Bulls held the trading range into a break out testing the 10ema
◘ Market reversed after the moving average test
◘ Today formed an outside down bear bar closing near its low
◘ Bears confidence may increase with the 05/23 close
DOGEUSDT Daily candlestick chart, 20 Exponential Moving Average, Volume Bars, Trend Lines Source: dcworldnews, tradingview charts
Will tomorrow's bears commit to another leg down?
Do bulls have the power to trap the bears selling today's close?
Will the market continue sideways along the moving average like it has done for 11 days?
What are your thoughts?
by Digital Currency World News, dcworldnews.com
May 23, 2022 06:10UTC
*This is not Trading Nor Financial Advice. Just DOGE food for thought.