DOGE MONTHLY BREAKOUT? PLUS INV HEAD AND SHOULDERS

May 16

Observed massive rally after the effects of the CPI report that surge BTC price past 6% and followed by other major coins. Now, I will tackle the possible DOGEUSDT breakout after the rally on the almost 2-month diagonal resistance trendline along with an inverse head and shoulders, a bullish pattern since the coin is on the downtrend that can be a sign of trend reversal for the coin.

Other details for the setup and the approach for DOGE will be discussed in the idea threads below. Stay tuned!

May 16

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For a possible breakout, the immediate resistance would be at the 382 Fib key level or at 0.16165 and the neckline for the inverse head and shoulders pattern is at 0.16896.

May 16

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The coin appeared to have a bounce on the trendline and currently observed a great candle that initiated a bounce breakout.

May 16

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Will wait for another touch on the trendline.

May 19

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Using the logarithmic chart for the coin, identified the diagonal resistance as the near multi-month resistance and labeled the 0.5 Fibonacci key level as the neckline for the inverse head and shoulder bullish pattern. In my view, this could go in a consolidated move as we are in the weekend at the time of this writing.

May 19

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Now, in case of a trendline breakout, potential take profit area would be at the neckline :)

May 21

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May 21

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We saw a pump for BTC then other altcoins followed the trend currently the price movement for DOGE is near the inverse head and shoulders neckline and looking to retest its resistance for another breakout, let the movement breathe for another major bullish move.

May 21

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Check out my other idea for BONK :)