This is not financial advice, this is just my perspective.
0.786 level has been a point of exit for many of these kind of moves. but we can't forget this is doge and doges tend to do whatever they want. Will it finish the pattern or will the 0.5 fib level remain support?
Let me know what you think.
Don't forget to follow if you would like to see more alt coin charts in the future. Bless you all.
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We are testing the .50 fib retracement from last uptrend, also bouncing back of the 20 EMA, This could be the bottom before another uptrend.
We are currently in a low volume wave hanging around 115 - 125, a wave like this usually occurs before a big move. .00000154 is the resistance to break I consider closing candles below .00000115 that we broke support.
The order book on this one is crazy, if you want to set up a stop loss, don't wait too long.
Be aware that these moves come in high risk/reward.
Trade closed: target reached
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Closed all my exits at .200 There could be more but I prefer not taking the risk.
@seedbaba, I like to work with fibonacci retracements, very often these levels will indicate the trend and work as support levels,
the double triangle shaped form is what they call a bearish gartley patern, there are different patterns indicating where the market could be going,
in this case 0.786 would be an exit point, but since its doge and is considered a meme coin, and it has no history to find old support/resistance levels, it would increase the risk.
if you combine all the indicators it could give you an idea on where to enter or exit.