H1: Triangle pattern, downside breakout attempt, below MBB
Watch 0.6216 and 0.6137
A failure to stay above those levels on H1 closing basis would trigger further downside
H4 : Sideways channel 0.534290-0.6950. Congestion zone top resistance and Doji @ 0.6600
To neutralise the ongoing downside risk, Doge needs to recover and hold above 0.6600
On the downside watch 0.6050 as the first significant support on H4. (closing basis)
D1 : Three long white candles in a row (from 0.3300 to 0.6950 !)
A reversal pattern is in progress
Pivot level to watch on D1 (closing basis) is @ 0.5965
A failure to stay and hold above that level at the end of the day would trigger
a dark cloud cover (bearish signal !)
CONCLUSION :
Screen the market from long to short term and to short to long term.
The purpose of those 2 analysis was to show you, at a glance a global situation overview in highlighting the importance
of the time frame you are looking for and insist in this high volatility seen in the cryptos market that it is crucial to
manage your Risk Reward Ratio accordingly and this depending on your targets within your time frames (M5 being not the same than D1 !)
Have a nice day.
All the best to everybody
Have fun and take care
And please, if you like my work and you find it is valuable for you, do not forget to like it and if not done yet to add Ironman8848 to your following list :-)
Thank you
Ironman8848
Watch 0.6216 and 0.6137
A failure to stay above those levels on H1 closing basis would trigger further downside
H4 : Sideways channel 0.534290-0.6950. Congestion zone top resistance and Doji @ 0.6600
To neutralise the ongoing downside risk, Doge needs to recover and hold above 0.6600
On the downside watch 0.6050 as the first significant support on H4. (closing basis)
D1 : Three long white candles in a row (from 0.3300 to 0.6950 !)
A reversal pattern is in progress
Pivot level to watch on D1 (closing basis) is @ 0.5965
A failure to stay and hold above that level at the end of the day would trigger
a dark cloud cover (bearish signal !)
CONCLUSION :
Screen the market from long to short term and to short to long term.
The purpose of those 2 analysis was to show you, at a glance a global situation overview in highlighting the importance
of the time frame you are looking for and insist in this high volatility seen in the cryptos market that it is crucial to
manage your Risk Reward Ratio accordingly and this depending on your targets within your time frames (M5 being not the same than D1 !)
Have a nice day.
All the best to everybody
Have fun and take care
And please, if you like my work and you find it is valuable for you, do not forget to like it and if not done yet to add Ironman8848 to your following list :-)
Thank you
Ironman8848
