DogecoinUpdated Head and shoulders formed in hourly.
The pennant failed to follow through after breakout. Now, there are two competing analyzes:
For now, I am not trading it till getting some clarity. Still holding small long position (not for short term trade)
- head and shoulders->bearish
- Descending wedge -> bullish
For now, I am not trading it till getting some clarity. Still holding small long position (not for short term trade)
Note
The wedge broke with no follow through which caused the price to move back to the tip of the wedge which is the measured target from the head and shoulders and has been a key support/ resistance level.Note
Bounce from 0.5 is not powerful enough. Not expecting it to hold.
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