DOGE - AT THE GLANCE - FROM LT TO ST
M1 : Volatility, volatility and volatility...
W1 : Watch weekly pivot level @ 0.4108. In this time
frame, only a sustainable recovery above that level, would
neutralise the ongoing downside risk
D1 : Ongoing downtrend still in place; Tenkan-Sen has been
briefly tested today. A daily closing above TS and above the ongoing
downtrend line resistance would be the first warning of a potential trend
reversal (not likely ¨)
H4 : Recent and current corrective recovery is facing a tough resistance area
to break (clouds resistance zone) which should be seen as the area to break on the
upside and on the downside, watch the cluster @ 0.3340, as a failure to hold above
this area would open the door for lower levels towards the 0.3000 area again.
H1: Mid Bollinger Band (0.3427) under attack. Watch KS (0.3380) as first significant
support level and on the upside the level of the former uptrend support line, currently
@ 0.3800
M30 : Potential double top formation in progress with its trigger level @ 0.3450. If confirmed
target is @ 0.3100 which is also roughly the middle of the M30 clouds support zone.
M15 : Currently attempting to recover above the clouds.
M5 : Below the clouds which became new resistance to break
CONCLUSION :
A SUSTAINABLE MOVE ABOVE 38.00 WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO
CALLING FOR A DOWNSIDE MOVE TOWARDS THE 0.3000 AREA FIRST.
Ironman8848
W1 : Watch weekly pivot level @ 0.4108. In this time
frame, only a sustainable recovery above that level, would
neutralise the ongoing downside risk
D1 : Ongoing downtrend still in place; Tenkan-Sen has been
briefly tested today. A daily closing above TS and above the ongoing
downtrend line resistance would be the first warning of a potential trend
reversal (not likely ¨)
H4 : Recent and current corrective recovery is facing a tough resistance area
to break (clouds resistance zone) which should be seen as the area to break on the
upside and on the downside, watch the cluster @ 0.3340, as a failure to hold above
this area would open the door for lower levels towards the 0.3000 area again.
H1: Mid Bollinger Band (0.3427) under attack. Watch KS (0.3380) as first significant
support level and on the upside the level of the former uptrend support line, currently
@ 0.3800
M30 : Potential double top formation in progress with its trigger level @ 0.3450. If confirmed
target is @ 0.3100 which is also roughly the middle of the M30 clouds support zone.
M15 : Currently attempting to recover above the clouds.
M5 : Below the clouds which became new resistance to break
CONCLUSION :
A SUSTAINABLE MOVE ABOVE 38.00 WOULD FORCE TO A VIEW REASSESSMENT OF THE EXPECTED BEARISH SCENARIO
CALLING FOR A DOWNSIDE MOVE TOWARDS THE 0.3000 AREA FIRST.
Ironman8848
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.