DOGECOIN: Review + Close Of The Day
◘ Tight trading range from the open for 9 hours ◘ Break out bull rally creates a high of the day, first week, and month of June at 0.08952 ◘ DOGE reversed into a lower high double top before failing to touch 0.09
◘ Bears short a strong first leg with 20ema gap ◘ Shorts under yesterday's low went 2 to 3 legs down before exhausting on the 4th
◘ The exhaustion formed a big break out bar then a bear hammer.
◘ Break out bull rallied up and sideways for 2 legs to the 20ema before a pause
◘ DOGE is performing in 2nd place under BTC while ADA took the hardest hit to last place
Daily Chart ◘ Outside down bear bar closing under its mid point after testing the 20ema ◘ Good follow through bears with above average volume into a higher low above May 26 ◘ DOGE returned to the trading range after a failed bull break out test above ◘ Bulls scalped the 20ema while bears stepped in for a short to the middle of the range
◘ 21 days long in the trading range
◘ DOGE is 4th in performance under XRP then ETH with BTC in the lead
◘ 15min Bar 1 strong opening short bear bar closing under its mid point
◘ 15min Bar 2 Bull Hammer Reversal Bar closing near its high with just above avg. volume ◘ 5min 5 break out bear trend bars with scalps and above avg. volume to 1 Bull bar ◘ 1min Bar 1 Inverted bear hammer short signal
◘ 1min Bar 2 Bear gap and bear break out bar closing near its low
◘ 1min Bars 3 - 20 Choppy Break outs, scalps, sideways to the 20ema above avg. volume ◘ 1min Bar 21 Break out bull 20ema test
◘ 1min Bar 22 Bear reversal at the 20ema strong bear break out closing on its low
◘ 1min Bar 23 Strong Bear follow through forming a lower low
◘ 1min Bar 24 Bull hammer reversal bar with scalps
◘ 1min Bar 25 Bull gap opens scalping bar24 high held the Bull gap
◘ 1min Bar 26 Strong Bull break out above the 20ema with scalps closing in the mid point
◘ 1min Bar 27 Open Bull follow through to close under the 20ema as an inside bar
◘ 1min Bar 28 Bull break out and close above the 20ema
◘ 1min Bar 29 Bull Break out into double top ◘ DOGE falls 2nd to last performer on the 1 min chart
◘ The 30min Technical Analysis is a "Sell 15, Neutral 10, Buy 1"
Will the market continue the wedge trading range under the moving average absorbing break out attempts
What are your thoughts?
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by Digital Currency World News, dcworldnews.com
*This is not Trading Nor Financial Advice.