HI 🖐
Babydoge has been able to grow well recently with its relatively low market cap. This incident has made his fans and holders extremely excited and became very viral and trending in social networks.
As you can see in the chart, after hitting the 0.8 support area, BabyDog experienced a lot of buying pressure and started its upward spike movement, with the entry of large volume and the beginning of this upward movement, there was a gap (FVG) or price imbalance. (Imbalance) Despite this price gap in the support area of 2.5 and Fibonacci 0.382 has turned this area into a strong support area.
Note: FVG can attract price like a magnet.
Currently, the price has reacted to its resistance zone, there are two scenarios with high probability.
Scenario number one: If the price can stabilize above the 3.7 resistance area, the next targets are expected to be 4.25 and 4.7.
Scenario number two: Traders who bought at lower levels take profit in this resistance zone or exit their trade and drive the price to lower levels (2.5).
Arztoday Team 💙
Babydoge has been able to grow well recently with its relatively low market cap. This incident has made his fans and holders extremely excited and became very viral and trending in social networks.
As you can see in the chart, after hitting the 0.8 support area, BabyDog experienced a lot of buying pressure and started its upward spike movement, with the entry of large volume and the beginning of this upward movement, there was a gap (FVG) or price imbalance. (Imbalance) Despite this price gap in the support area of 2.5 and Fibonacci 0.382 has turned this area into a strong support area.
Note: FVG can attract price like a magnet.
Currently, the price has reacted to its resistance zone, there are two scenarios with high probability.
Scenario number one: If the price can stabilize above the 3.7 resistance area, the next targets are expected to be 4.25 and 4.7.
Scenario number two: Traders who bought at lower levels take profit in this resistance zone or exit their trade and drive the price to lower levels (2.5).
Arztoday Team 💙