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DC Daily Report: Is A Bull Inverted Hammer Enough For A Reversal Or Are Bears Setting A Trap?

DOGECOIN: Review + Close Of The Day

05-27-2022


15min chart

◘ Sideways to up trading range day ◘ Bulls formed a strong break out around 15:15UTC ◘ Bulls scalped the extreme high above the moving average

◘ Bears shorted the extreme bull bar pulling the market back into the trading range ◘ Sideways to up trading range price action till the close of the day

DOGEUSDT 15minute chart, 20 Exponential Moving Average, Volume Bars Source: dcworldnews, tradingview charts Daily Chart ◘ Today formed a Bull break out after yesterday's lower low double bottom bear bar

◘ Bull test of the moving average price similar to March 14th (left arrow in picture) ◘ Both today and 03-14 follow the bear break out after a bear flag ◘ Both are inverted Bull hammers closing a moving average bear gap ◘ A bear bar followed the 03-14 bull bar then sideways to up testing the moving average

◘ Bulls break out after 4 - 6 days

◘ Similar setup?

DOGEUSDT Daily chart, 20 Exponential Moving Average, Volume Bars, Trend Lines Source: dcworldnews, tradingview charts DOGECOIN Open Of The Day

05-28-2022 ◘ Early high of the day forms a lower high double top ◘ Bears take control with a break out trying to hold the market under the moving average ◘ Counter trend Bulls step in for scalps and moving average gaps

◘ The opening 15 minute technical analysis indicates a "Sell 10, Neutral 9, Buy 7"

DOGEUSDT 1min, 5min, 15min chart, 20 Exponential Moving Average, Volume Bars, Trend Lines Source: dcworldnews, tradingview charts

DOGEUSDT 15min Technical Analysis Source: dcworldnews, tradingview charts Do the Bears take advantage of the Bull confidence with a trap?


Can Bulls muster up the strength to rally against the Bears?


Will the market stay along the trading range path from the last 14 days?


What are your thoughts? Watch DC Charts Live and Stay Tuned For Tomorrow's Report! _________________________________________________________________________ by Digital Currency World News, dcworldnews.com 05-28-2022 03:09 UTC _________________________________________________________________________ #doge#dogecoin#crypto#priceaction#digital#currency#world#news#btc#eth#mana#ada#xrp *This is not Trading Nor Financial Advice.

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