Dogecoin Ascending Triangle In progress *Bullish*
There seems to be an ascending triangle forming. Green Candles aren't large and sporadic, but are rather consistently. There currently seems to be an area of low volatility or also known as consolidation area in which price is respecting the lower wedge of the ascending triangle.
Here are some pros:
Daily:
Price previously closed above the 8 EMA, and is currently trending above the 21 EMA as well as the 50 MA.
Weekly:
Price previously closed above the 8 EMA and 50 EMA and is on path to closing above the 21 EMA if given volume allows the trend to continue. In addition, price is respecting the 200 EMA and 200 MA as support and thus shows that the stock is currently in an upward trend.
MacD line is has just crossed the signal line with a positive slope, and histogram shows positive area. Thus, given the current area of low volatility or consolidation, the crossing of the macD line with the signal line, should give enough information that the trend will go from low volatility to high volatility in the direction of the trend.
Key Notes to watch out for:
On weekly watch out for the 8 EMA to cross the 21 EMA. If such action happens, price can retrace off the 38% Fibonacci ratio then the 50%.
Here are some pros:
Daily:
Price previously closed above the 8 EMA, and is currently trending above the 21 EMA as well as the 50 MA.
Weekly:
Price previously closed above the 8 EMA and 50 EMA and is on path to closing above the 21 EMA if given volume allows the trend to continue. In addition, price is respecting the 200 EMA and 200 MA as support and thus shows that the stock is currently in an upward trend.
MacD line is has just crossed the signal line with a positive slope, and histogram shows positive area. Thus, given the current area of low volatility or consolidation, the crossing of the macD line with the signal line, should give enough information that the trend will go from low volatility to high volatility in the direction of the trend.
Key Notes to watch out for:
On weekly watch out for the 8 EMA to cross the 21 EMA. If such action happens, price can retrace off the 38% Fibonacci ratio then the 50%.
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