DOGEUSD Consolidating to go Up?
Like most of the coins, DOGE is healing its wounds and preparing for an upwards movement. After breaking its bull flag, it is now consolidating by forming a small bull flag and catching its breath just above the trendline (yellow).
Soon it should break the small flag and try to go up as high as its pivot point. If volumes also support that movement, it can even trigger the full target of its bigger flag and go up to the previous high.
However it the trendline cannot hold, it should retreat as low as FOB 78.60% at the latest once again. There it should form a double (maybe tripple) bottom otherwise I don't know what could save it.
Note that if it goes to the pivot point but cannot break it, then it might form an ascending wedge like LTC or XRP and might test the bottom line of the wedge. Let's see.
I'm neutral on this, can't be as positive as LTC or XRP.
Soon it should break the small flag and try to go up as high as its pivot point. If volumes also support that movement, it can even trigger the full target of its bigger flag and go up to the previous high.
However it the trendline cannot hold, it should retreat as low as FOB 78.60% at the latest once again. There it should form a double (maybe tripple) bottom otherwise I don't know what could save it.
Note that if it goes to the pivot point but cannot break it, then it might form an ascending wedge like LTC or XRP and might test the bottom line of the wedge. Let's see.
I'm neutral on this, can't be as positive as LTC or XRP.
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