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DC Daily Report: Bulls held and pushed higher, but, are Bears just around the corner?


DOGE/USDT: Review + Close Of The Day

15min chart


05-22-2022

◘ Opening trading range for 9 hours with below average volume

◘ Bulls break out above the trading range into a double top

◘ The reversal down formed a trading range for 7 hours

◘ Bulls formed a 2nd break out above the trading range into a double top



DOGE/USDT Open Of The Day


05/23/22

◘ 1st 15 min bar of the day is a bull hammer inside a double top

◘ The reversal down formed a trading range for 6 hours

◘ There is no break out until there is a break out

◘ Sideways to up wedging in with below average volume


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



DOGEUSDT Daily Chart


◘ Bulls won the 22nd but failed to touch the moving average

◘ Moving average trading may increase the market volume

◘ Bears may see the Bull failure as a signal for another leg down

◘ Bulls may trap Bears and test patience in holding sideways

◘ Bulls are close to the moving average that it may act as a magnet.

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



◘ Market moved sideways through the top of the bear wedge line with 2 bull bars.

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



Will the Bulls break out above the moving average with a close?


Are the Bears about to step in with a strong leg down testing lower lows?


Does DOGE continue sideways in a low volume trading range along the moving average?



What are your thoughts?


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by Digital Currency World News, dcworldnews.com

May 23, 2022 06:10UTC


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

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