Dogecoin Technical analysis
Hello everyone welcome back to another update
Hello ladies and gentlemen as you can see on Doge yesterday we were testing a very key midterm support level which did end up breaking and we saw a massive breakdown structure now, of course, the fact is that we are now seeing a nice rebound opportunity we are still trading below the exponential moving averages just like we had over here we had the breakout above after that dump opportunity we missed our chance apparently and then we broke down again same sort of situation and once again we are still trading lower I am still expecting somewhere down here at 0.124$ or of course 0.11$ but of course the market was in extremely oversold condition so which is why we are seeing a nice bounce opportunity I would heavy attention to around the 20 EMA if we do get a candle close below that level then that's going to be the confirmation that we are still heading towards the downside
In the daily time frame you can see that this area of resistance is because we are still yet to test our 9 EMA now that was used as support now turning into a resistance standpoint so if the Bulls of course somehow manage to break above those exponential moving averages and use them as support then we could say that this was the local bottom but most likely than not looking at Bitcoin and Ethereum this is just going to act as a resistance standpoint on the way towards the downside
Doge, I would personally be waiting for the daily exponential moving averages to see how they react to the EMAs and of course if we do end up seeing a rejection standpoint then this level will be the main zone of opportunity for a lot of you are looking for those trades but that's pretty much
see you in another update Please Don't forget to upvote, resteem, and comment...
