DOGECOIN: Review + Close Of The Day
◘ Opening as a 2nd leg bear trap turns higher low double bottom bull break out ◘ Head and shoulder top turns bear short above the 20ema for 3 legs down ◘ Market trading range sideways to up till the close of the day ending bullish
◘ More bull than bear but still below average volume for most of the bars ◘ DOGE held 1st place performer for the majority of the day
Daily Chart ◘ Today formed a micro lower low double bottom bull bar closing in the middle of the wedge ◘ Trading range price action holding the market inside of the wedge ◘ Bears failed to break out under the wedge ◘ Minor Bull bar as possible Bull signal
◘ DOGE is 3rd in performance under ETH with BTC in the lead
DOGECOIN Open Of The Day
06-05-2022 ◘ 1min chart opening trading turns sell off as a bounce off and above the 20ema ◘ The minor bull break out above the 20ema formed a higher high double top and reversed ◘ The reversal was a choppy sideways to down under the 20ema
◘ 5min a series of inverted bear hammers and higher high double top reversal to the 20ema ◘ 15min Bull signal above the 20ema turns strong bear signal closing low
◘ XRP, ETH, BTC then DOGE in 4th for performance
◘ 15 minute technical analysis is a " Sell 9, Neutral 9, Buy 8 "
Are Bears strong enough to control the open and break out of the wedge?
Do Bulls stand ground for a rally to the top of the wedge then scalp?
Will the market continue to travel sideways in the wedge until closer to June 12 - 13?
What are your thoughts?
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by Digital Currency World News, dcworldnews.com
*This is not Trading Nor Financial Advice.