DOGE Looks BULLISH after breakout and support retest!After dogecoin broke out of it's major trendline. It has now found support above a daily level, and golden pocket. It has also retested the trendline for a 3rd confluence.
These are great signs to support a bullish continuation to the upside.
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Dailylevel
GMTUSDT Daily S/R| .618 Fibonacci| Price Action| Trend Evening Traders,
Today’s analysis – GMTUSDT- trading towards a clear support level where a bounce is probable,
Points to consider,
- Price Action Corrective
- Daily S/R Support
- .618 Fibonacci Support
- Bullish Order Block
GMTUSDT’s immediate price action is coming close towards a support level that is in technical confliuenc with a Daily S/R and the .618 Fiboancci, allowing for a bullih bias.
The immediate objective is the Daily S/R Resistance, exceeding this level will lead to a bullish continuation.
Overall, in my opinion, GMTUSDT is a Valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
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And remember,
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ABC completed with an SFP into a daily level, expecting new ATHC finally reached the 0.382 and made an sfp on 4hr TF taking the A low and all the stops under it touching perfectly that daily level in brown (last untouched daily of the range, significant), on 1hr TF we had a bounce on the 0.705 (typical institutional bounce), confluence here
and stochastic rsi bottomed on high TF, ideal condition for a bounce