DOGE - Created Structure
Overnight we formed a nice ascending triangle with constant higher lows and our same resistance at the top. Ascending triangles are usually bullish, but the strength of the trend does not seem strong enough to break. Here I will give you both targets of this pattern.
If we have a bullish breakout from our resistance we would measure our fib level which would gives us a 1.618 of $0.115. If we measure the flagpole of this move and put it at the potential breakout point we could go over $0.13.
For the bearish scenario you would look for a retest of our liquidity zone between $0.089-0.091 and then look for a flip of old resistance into new support somewhere between $0.081-0.084.
If we have a bullish breakout from our resistance we would measure our fib level which would gives us a 1.618 of $0.115. If we measure the flagpole of this move and put it at the potential breakout point we could go over $0.13.
For the bearish scenario you would look for a retest of our liquidity zone between $0.089-0.091 and then look for a flip of old resistance into new support somewhere between $0.081-0.084.
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