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DC Report: Do Bulls Take Partial Profits Or Continue To Rally?

DOGECOIN


08-16-2022


Daily Chart


◘ Today's Break out Bulls trapped Bears going short after yesterday's inside Bear bar

◘ Today closed near it's high with a minor bounce from the 10ema

◘ Bulls are forming higher high's and beginning to trap Bears above the 20ema

◘ So far August has been quite Bullish with some trading range price action at the beginning

◘ The Bull break outs are high above the 20ema

◘ The market is up 82.37% from the June 18th Low of 0.04912 to the High of Today

◘ Today broke above the bottom of the Weekly bear support (Red Dash Line)

◘ There may be a strong resistance at the Weekly chart 20ema is currently at 0.09036

◘ Today also broke above the top of the Bull channel which may be exhaustive

◘ Bulls may take partial profits looking for a flag sideways before continuing up

◘ August high is above the June high. Bulls erase the Bears attempt to bottom out the market

DOGEUSDT Daily chart, 20 Exponential Moving Average, Volume Bars, Trend Lines Source: dcworldnews, tradingview charts


Do Bulls take partial profits or continue to rally?

Are Bears willing to sell for a swing knowing there are traps?

Will the market flag sideways at the Weekly 20ema resistance?


What are your thoughts?


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by Digital Currency World News, dcworldnews.com

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_________________________________________________________________________ #doge#dogecoin#crypto#priceaction#digital#currency#world#news#btc#eth#mana#ada#xrp*This is not Trading Nor Financial Advice.

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