Today we'll be analyzing the dogecoin from the 120 chart.
We've seen series of false breakdowns from our amazing trendline which acted as a support and resistance wedge. Unfortunately the recent month low could not form a false breakdown rather we saw the price bouncing off the support.
We could see a potential short term bull ride up to the horizontal wedge...
The DOGEUSDTPERP chart on the 4H timeframe shows an inverted cup and handle which is a bearish reversal signal. Fix a good entry if you're trading and mount a stop loss order on the red horizontal line.
Manage risk accordingly.
The crypto market is in an uncomfortable situation at the moment, we're on the verge of experiencing a price we haven't since February. The bulls are being overpowered as SSL keeps increasing.
There's a big market dump awaiting the altcoin market if BTCD keeps increasing and Bitcoin keeps decreasing, recovery anytime soon is slim cause we have investors selling...
As long as BTCDOM remains bullish, BTC will keep soaring high, a lot of LONG Liquidations seen in the last few hours but it'll all happen to be a bear trap afterall.
There was a failed breakdown at $35.5k, t'was just a market restructuring before the bulls takeover. All necessary info in the chart.
Just an insight.
While BTC still looking bearish, BTCD keeps decreasing and Altcoins might see a new turn.
$SHIB formed a triangle on the 4H chart, possible signal for a Long call. Only $BTC dip to 38K will sour our analysis.
