DOGECOIN
March 6th 2024
15 Minute Chart
◘ Double Top Sell off 2 to 3 legs down into a double bottom buy back into a trading range
◘ The wedge is closing and may attempt to break out above or below todays inside bar
◘ The bottom is closer to the top
◘ The moving average is just below
◘ Both Bulls and Bears showed a lack of follow though to control the market
Daily Chart
◘ Today formed an inside bull trading range bar after an extreme outside down bear bar ◘ Yesterday failed to test the 2022 high then pulls back strongly after an 8 day rally ◘ Bears failed to continue the sell off
◘ The 20ema gained 29.96% from 0.0846 at 0.1208 holding above with a 9-day buy gap
◘ Some historical moving average buy gaps have lasted longer than 15 days
Where is the market headed?
Let's compare some historical break outs
October 2022: 2-3x gain the 50-60% pullback into a trading range with a 13day buy gap
April 2021: 8-9x gain the 50-75% pullback into a trading range with a 13day buy gap
January 2021: 3-4x gain the 40-50% pullback into a trading range with a 10 day buy gap
July 2020: 2-3x gain the 50-60% pullback into a trading range with a 6 day buy gap
April 2019: 2-3x gain the 50-60% pullback into a trading range with a 10 day buy gap
December 2018: 5-10x gain the 60-75% pullback into a trading range with a 31 day buy gap
◘ What is consistent through each break out?
What are your thoughts?
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by Digital Currency World News, dcworldnews.com
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*This is not Trading Nor Financial Advice.