We are still within the upward trend and in the channel of hope.
Nearing the edge of the bottom, which has strong support.
I will not mention that we shall not pass the 0.30 range to confirm H&S neckline (chart may not say this now, but the short trend is as such). Instead the chart I see currently is upward with downward pressure from whales. It is quite apparent from today's movement that it was inspired, as every time such as this, the price equalizes and starts to slowly rise (retail buyers). The bears/shorts want the price lower. To some degree, I cannot complain because this means cheaper prices. Also, keep in mind most crypto is down today.
Today, I see a long position forming and I am publishing as such. Rise above 0.385, confirmation at .042 for trend and maintain above 0.45 to reach .56.
Remove emotion and stick to your investing strategy. Use the chart and logic to guide you. Set alerts and SL, and please remember to take profits.
Please give a thumb if you like and let me know what you think.
I update my ideas regularly and will respond here.
Please do your own research & DD as I am not your financial advisor.
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Its funny how things go sometimes. I was probably the second person to notice a possible H&S pattern some time ago. Now, almost everyone is talking about it here. Thing is, now I see hope of the continuation of the sideways track and slight upward movement until a catalyst propels us upward at an accelerated rate. Could go either way of course, but there it is.
this is a good analysis. thank you. I love doge and holding since 2017 but I think it is time to move on. It becomes riskier and riskier.
er453d
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@obviousMagpie26796, True, yet all crypto is. But I do understand. There are many other opportunities out there. Good luck to your investments.
er453d
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er453d
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Currently, we are bouncing off a larger trend bottom (green) and a strong support line (0.30). If we hold above these areas, we will continue to consolidate and move sideways to slightly upward for some time.
If we do not, we will continue the bearish trend angle which was at about 24 degrees initially and 19 degrees now (showing slower decent).