Doge tried 5 times to break below 0.3 level, and they were all unsuccessful. There was a huge upward movement from 0.3 to 0.45 level, which indicates bulls got some strength. After this buy climax, bears tried to test the 0.3 level for one more time. Exactly two times, which made it a double bottom pattern which is obvious. Bears lost their momentum, however, bull momentum is not significant at this time. Only one bar with more than 500 million volume is needed to trigger sideways to get in the long side.
Risk: Reward ratio is reasonable and the probability of reaching 0.45 is really well.
Reasons to go long:
1. Market has a very significant zone here ( structure)
2.There is a trading range after two-legs movement.
3. BTCUSD currently is at its high, but all the altcoins are lagging behind.
4. Inverted Head and shoulder pattern at the bottom which is pretty obvious.
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Go long, only if a bullish bar with a huge volume (500 M+), appears on the chart.
Risk: Reward ratio is reasonable and the probability of reaching 0.45 is really well.
Reasons to go long:
1. Market has a very significant zone here ( structure)
2.There is a trading range after two-legs movement.
3. BTCUSD currently is at its high, but all the altcoins are lagging behind.
4. Inverted Head and shoulder pattern at the bottom which is pretty obvious.
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Go long, only if a bullish bar with a huge volume (500 M+), appears on the chart.