Dogecoin Technical analysis
Hello everyone welcome back to another update
Hello, ladies and gentlemen Doge has officially broken above 0.168 and now we are using that same level as support, of course, we had a beautiful trade setup from $0.17 down to $0.124 and I want to talk about this current setup that we had now $0.124 was a major support level you can see of course the fact that level was tested twice and the third test opportunities we were hoping for the fact that we did see a wick down to $0.11 but this was also about Fed news this day we had the federal meeting reserve, of course, mentioned the fact that we are looking for neutral rates which did cause Doge to see a very nice rally opportunity and then we ended up using our exponential moving averages as support
In the daily time frame, we do have a very nice retest on exponential moving averages and ideally any break above$0.19 is going to be the confirmation for a swing position rallying into 0.21 and of course higher into the $0.35 range
I am bearish on Doge from a large perspective we have taken multiple long positions and swing positions on Doge from a spotting perspective at 0.08 the reason why we wait for these pullback opportunities is that these are buying opportunities and we want to make sure we enter when we are entering with size at a crucial Zone it's much better than entering into this range and of course playing this chop opportunity towards the up and downside versus and just waiting for a major support level or even the exponential moving averages to be tested first on the daily time frame for us to get the confirmation
As long as we break above that $0.19 level we are in a bullish continuation it's going to be crucial for the Bulls to hold above $0.168 any break below that level once again and we are back into that bearish perspective we have to also keep in mind
For those of you who are looking for scalping opportunities or any sort of trading opportunities on Doge as of right now what do you want to pay attention to of course this Wick High break at $0.188 any clean break above that zone and it's a very nice scalping opportunity into a major resistance and of course any stronger move above that level and we are pretty much in a free zone into $0.21 but that's pretty much
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