DC Report: Inverted Head & Shoulders Setup Or Bear Trend Resumption?
◘ Today formed an outside Bear trading range bar closing under the 20ema after 2 Bull bars ◘ The market reversed to exactly yesterday's low after Bulls scalped the 20ema at the open ◘ Bulls slowly rallied after Bear scalpers took profit at yesterday's low ◘ Doge paused for another time under the 20ema ◘ Bears may have strength for 4th leg down to the Bull trend line near 0.058 ◘ Bulls might step in at the higher low to Oct 15th's close
◘ That may form a "Head + Shoulders Bottom" indicating a minor reversal for a Bull rally ◘ Bears may want a strong short under Oct.15's low over a 4th or 5th leg down trapping Bulls ◘ Today's volume was higher than yesterday's but remains under the 20-day average volume
DOGEUSDT Daily Chart, 20 Exponential Moving Average, Volume Bars, Trend Lines Source: dcworldnews, tradingview charts What are your thoughts? Watch DC Charts Live! _________________________________________________________________________ by Digital Currency World News, dcworldnews.com 10-19-2022 _________________________________________________________________________ #doge#dogecoin#crypto#priceaction#digital#currency#world#news#btc#eth#mana#ada#xrp *This is not Trading Nor Financial Advice.