Dogecoin Technical analysis
Hello everyone welcome back to another update
Hello ladies and gentlemen you can see from move set we ended up breaking below the 0.178 level I'm paying attention to is 0.168 if this level structure ends up breaking ladies and gentlemen we are going to experience a ton more pain on Dogecoin because of the fact that this is the last remaining support the Bulls have from a daily time frame you can see that would be also the first area of a buying opportunity but we have to be very careful for buying opportunities as of right now and the reason for that is you can see that the buying opportunity at 0.178 we never got a candle close right so a candle close above the support retesting the exponential moving averages and then using them as supportas well is what you are looking for right now we didn't see that you can see they ended up being used asresistance and as of right now we have the same sort of situation happening once again 0.168 if this level structure ends up breaking below that zone and retesting as resistance then that is your confirmation to not be looking for any buying opportunities on Doge
I know that sounds like an extreme case scenario and I don't want to worry you too much but you have to understand that this whole move set right here was straight manipulation I warned you at 0 . 21 to be locking in your profits because that was a weekly resistance but a lot of you decided to hold a lot of you in the comments were bullish on Doge and now you can understand why I was telling you to be very cautious so right now what we're looking for on doge is, a candle close above 0.168 and if we end up using that level as support and using the exponential moving averages and that's you're going to be your confirmation
The Daily time frame I told you guys this as well that if the 20 exponential moving average does end up being lost on support then that, is another bearish confirmation this is now the first time we have lost this in a very long time you can see that the last time was here where we saw that capitulation now we are seeing the same sort of opportunity on Doge breaking below the exponential moving average and, this would be the start of a new trend towards the downside the daily EMAs are extremely important which is why I keep telling you guys to be extremely cautious when you are paying for long-term perspectives you want to be looking for the area of buying opportunities once we see that level being used as support
I'm expecting the fact that if 0.168 is hit that's going to be our first Target we need to see volume come into the market if we end up seeing volume and the EMS break and use support that's your confirmation that this is the local bottom and you can start looking for long opportunities otherwise if we close the candle below the Candlestick closes below and retests as resistance then we still have more pain coming unfortunately for Doge overall but that's pretty much
see you in another update Please Don't forget to upvote, resteem, and comment...
