top of page

DC Report: Big Up, Big Down, Big Confusion... Trading Range?

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? _________________________________________________________________________ by Digital Currency World News, dcworldnews.com _________________________________________________________________________ #doge#dogecoin#crypto#priceaction#digital#currency#world#news#btc#eth#mana#ada#xrp *This is not Trading Nor Financial Advice.

9 views0 comments

Comentários


bottom of page