Dogecoin has been moving in a downward pattern for the past month, creating lower and lower highs. At the same time, we can see the creation of a triangle with a clear support level of $0.168, at the last test of this level Bitcoin, rose 20%, while breaking the trend line, at the same time there was a strong volume increase, which meant someone got liquidity to sell. In fact, after that, the Doge corrected again and is now heading towards the lower support level again.
Will the support hold this time?
If the Dogecoin declines and squeezes towards this level, it is very likely that this level will be broken. You could try to enter the trade on a squeeze or safer on a breakdown and test as resistance.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
Will the support hold this time?
If the Dogecoin declines and squeezes towards this level, it is very likely that this level will be broken. You could try to enter the trade on a squeeze or safer on a breakdown and test as resistance.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
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- Why it got dropped
- Why volume appears at high
- Where is bottom