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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