dRends35

DOGE - Trickling Down Supply Trendline

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dRends35 Uppdaterad   
BINANCE:DOGEUSD   Dogecoin
As per request

DOGE is finding the supply trendline to be heavy resistance. I wouldn't be surprised if it continues to hold into the deeper bear market.

Wyckoff SOW support area also forms a descending triangle with supply trendline that should as a whole become a continuation pattern to the downside and support will become resistance.

Circled areas show interaction with 200ma, which has wicked support is now becoming resistance and a technical bear market.

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Kommentera:
Price has broke out from supply trendline, so a bounce is now likely.

- How high can it bounce?

Its very difficult to say for a very erratic coin but could be a good short at $0.4, 0.618.

Not advice.
Kommentera:

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