DOGEUSDT| Bearish Candle Spark Accumulates Interest.Hello there,
DOGEUSDT is currently in a neutral position, as the price is forming a bearish candle. However, there are signs of a potential bullish reversal in the form of an inverse head and shoulders pattern.
If the price breaks above the neckline of the inverse head and shoulders pattern, it could signal a bullish trend reversal and potentially lead to a rise above the 0.17515 level.
Otherwise, if the price breaks below the 0.1549 support level, it could indicate a bearish continuation from the 0.19846 highs. In this scenario, the price could potentially target two bearish price targets.
Ultimately, it will be prudent to skip it or monitor the market movements to see how this situation sets itself.
Summary
: The formation of the inverse head and shoulders pattern suggests a possible bullish reversal, but a breakdown below 0.1549 could confirm a bearish continuation.
Happy Trading,
K.