This chart demonstrates a potential bullish scenario for DOGS/USDT on the 1-hour timeframe, as price action consolidates within a critical demand zone, showing signs of a reversal. Here’s the breakdown:
Price Structure: The price has formed multiple Quasimodo Levels (QMLs), with QML1, QML2, and QML3 indicating a strong demand zone in the highlighted purple area.
Demand Zone: The region around $0.00005700 - $0.00005950 has acted as a key support zone multiple times, confirming its strength.
Engulfing Pattern: The "engulfed" area highlights the previous aggressive move upward, showing strong buyer interest in this region.
Break of Trendline: A descending trendline was breached during the last bullish move, further confirming a shift in momentum.
Bullish Scenario: A successful bounce from the QML3 area could lead the price to test higher resistance levels around $0.00007000 and beyond.
Price Structure: The price has formed multiple Quasimodo Levels (QMLs), with QML1, QML2, and QML3 indicating a strong demand zone in the highlighted purple area.
Demand Zone: The region around $0.00005700 - $0.00005950 has acted as a key support zone multiple times, confirming its strength.
Engulfing Pattern: The "engulfed" area highlights the previous aggressive move upward, showing strong buyer interest in this region.
Break of Trendline: A descending trendline was breached during the last bullish move, further confirming a shift in momentum.
Bullish Scenario: A successful bounce from the QML3 area could lead the price to test higher resistance levels around $0.00007000 and beyond.
Trade closed: target reached
the final target touched
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.