DOGECOIN
08-13-2022
Daily Chart
◘ Today Bulls tested Wedge resistance and pulled back forming and inverted Bull hammer
◘ The previous day formed a break out both below and above the last day of the initial wedge
◘ Bad follow through Bulls scalped at resistance keeping the market inside of the wedge
◘ The current wedge is measure to converge Aug 30th
◘ It may be possible that DOGE will continue in the wedge till the end of the month
◘ Both sides may be disappointed with break out attempts that fail to follow through
◘ Traders on both sides are waiting for a significant series of break out bars in their favor
◘ The market is in a 2 - 3 month trading range after the June drop and reversal
DOGEUSDT Daily chart, 20 Exponential Moving Average, Volume Bars, Trend Lines Source: dcworldnews, tradingview charts
Do Bulls have enough to break out and rally above 0.08?
Are Bears willing to risk more than a scalp this low in the market?
Will the market stay sideways in the wedge for scalpers accumulating small percentages?
What are your thoughts?
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by Digital Currency World News, dcworldnews.com
08-14-2022