FieryTrading

🔥 DOGE Bearish Triangle: Update

BINANCE:DOGEUSDT   Dogecoin / TetherUS
Around 4 days ago I made an analysis on DOGE. Here I indicated that things were looking bearish , but that the red support area was still likely to hold and cause a reversal.


During the B-word conference yesterday, Elon Musk admitted that he personally still held some DOGE. So when the market rebounded, DOGE was one of the biggest winners, increasing +25% on the daily at some point.

After a big move yesterday, it's to be expected that DOGE (and the rest of crypto) will see some consolidation for the day.

DOGE is now officially trading outside the bearish triangle. Since it broke out on top, one would classically expect a bullish move ahead, but I'm cautious.

BTC is still technically trading inside a downtrend, so I'm not confident that we're going to see a $0.30 any time soon. For DOGE, the current key area to beat would be yesterday's top, around $0.215. If DOGE manages to beat this high, we might think about a near term bullish reversal from DOGE.

Happy trading!
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Comments

nice one!

Fire idea mate. 😃🔥🔥🔥
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Great chart buddy
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Excellent breakdown, well done. 😉
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thanks for the good post
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I agree 100%
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Quality post! Thanks for the reasonable and realistic analysis.
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good post. thanks for sharing
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Nice one, good luck!
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Maybe a pullback ,then going up
Well no one knows about the future
Let’s see !
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