Dodobtc
DODO Buy When the Breakout ConfirmedDODO Buy When the Breakout Confirmed
Signal: Red -> Green
Context: Green: Bullish
DODO, DODOUSD, DODOUSDT, DODOUSDTP
DISCLAIMER
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make your own decisions and be responsible for your own investing and trading Activities.
DODOUSDT (DODO) - POTENTIAL BUY ENTRY ANALYSIS 🔎
- This is a double setup analysis on DODOUSDT.
FIRST SETUP
- The bounce off the horizontal support level (S1).
- Price is testing the horizontal support level (S1).
- The downtrend is resisted by the descending trendline resistance (DTR-2).
- There's an uptrend potential.
Buy entry ⬆️ : breakout above the descending trendline resistance (DTR-2).
Target 🎯 : horizontal resistance level R1(neckline resistance).
Setup invalidation ❌ : breakdown below the horizontal support level (S1).
SECOND SETUP
- This setup remains valid if the first setup plays out as expected (price breaks out above DTR-2 and hits the neckline resistance.
- Price would be the testing the neckline resistance.
- This would form the double bottom pattern.
- A double bottom pattern is bullish reversal pattern.
Buy entry ⬆️: breakout above the double bottom neckline resistance.
Targets 🎯 : horizontal resistance levels (R2, R3).
Setup invalidation ❌ : breakdown below the previous swing low.
DODOUSDT (DODO) - UPTREND CONTINUATION ANALYSIS 🔎
- DOGEUSDT brokeout and hit an ATH.
- The market then experienced retracement for a retest of the flip horizontal support, 0.618 fibonacci retracement level and ascending trendline support
- The retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- There's an uptrend continuation possibility.
BUY ENTRY ⬆️
- Market price.
TARGETS 🎯
- Horizontal resistance level (R1).
- ATH resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support.