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