DODO is following text book price action so far after the formation of the W-pattern and the pullback to retest the neckline of it. Since the breakout of the descending channel/falling wedge end of September, price has been trending upwards. The trend is even more clearly visible on the 4H chart as can be seen here:...
Update on daily chart
*Famous Node Wedge break out
*STL broken downwards, we could back test support @ 1.070 and bounce right off the wedge and hit 1.58 area (bottom of the symm triangle)
*Oct 3, 2021 could be an area for recovery
Chart shows daily bars and DODO hitting Monthly Support level 2 (MS2) on May 23rd, which is pretty over sold. Pivots tend to trade at resistance to support lines, and vis versa, on their corresponding timeframes. DODO has a reason to meander to a Monthly Resistance 1 (MR1), judging by the price action since MS2.