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DC Daily Report: Bulls Barely Win The Day. Can They Hold The Line?

Updated: May 22, 2022

DOGE/USDT: Review + Close Of The Day

15min chart


05-21-2022

◘ Strong bear break out below the moving average for the reversal at the open of the day.

◘ Bear scalpers at the bottom with bulls stepping in with a higher low reversal

◘ Bull break out from the low of the day for 2 - 3 legs up to the moving average.

◘ Market stayed near the open in a trading range for 12 hours

◘ Bulls break out above the moving average testing the top of the bear channel

◘ Test becomes a minor reversal leading to a trading range close of the day




DOGE/USDT Open Of The Day


05-22-2022

◘ Tight trading range open moving sideways through top of the bear channel



DOGEUSDT 15minute candlestick chart, 20 Exponential Moving Average, Volume Bars Source: dcworldnews, tradingview charts



DOGEUSDT Daily Chart


◘ Majority of the year has been sideways to down in a bear channel

◘ This bear channel is inside of a broad bear channel on the weekly chart

◘ Bear side is strong, but there may be a point of exhaustion May 11-12

◘ Market has been trading sideways to the moving average since then

◘ Bears unable to form a lower low on May 20

◘ Bull may now be on the 4th attempt at a reversal

DOGEUSDT YTD Daily candlestick chart, 20 Exponential Moving Average, Volume Bars Source: dcworldnews, tradingview charts


Can the Bulls control the day with a test and hold above the moving average?


Do the Bears step in strong forming lower lows?


Does the DOGE continue to move sideways in a trading range along the moving average?



What are your thoughts?



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by Digital Currency World News, dcworldnews.com


May 22, 2022 03:19UTC


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#doge#dogecoin#crypto#priceaction#digital#currency#world#news#btc#eth#mana#ada#xrp


*This is not Trading Nor Financial Advice. Just DOGE food for thought.

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