DOGECOIN: Review + Close Of The Day
◘ Trading range open sideways to down, along below the moving average for 13 hours
◘ Bear break out quickly reversed back up into the trading range by the Bulls
◘ Bulls close the day moving sideways to up just above the moving average
◘ Today formed a weak hammer with below average volume
◘ Bad follow through for the Bears after the outside down inverted hammer
◘ Possible Bear Scalp or Trap
◘ More a trading range bar than Bull signal bar
◘ Possibly too low for Bears with not enough confirmation for the Bulls.
DOGECOIN Open Of The Day
◘ 1st 1min bar of the day is a 1 pip Bear bar that Bulls reversed
◘ Bear break out trapped and reversed the Bulls for 8 pips
◘ Scalp and Bull flag to the moving average
◘ Bear shorting the average to a double bottom
Is the opening double bottom just a pause before a new low?
Are Bears ready to bust through the support?
Do the Bulls retest and hold above the moving average above?
Or will the market continue sideways like it has for the last 13 day?
What are your thoughts?
by Digital Currency World News, dcworldnews.com
May 25, 2022 01:04UTC
*This is not Trading Nor Financial Advice.