Time to break the downtrend channel?
Hi,
Looking at the 4 hour chart, Doge have been in this downtrend channel for a while. Given the divergence pattern on the MACD indicator, now seems to be the time to break out of this channel. Moreover, looking at the RSI, bulls have some room to push the chart out of the channel.
I wouldn't go long unless I see the breakout from this channel.
First stop (probably easy and fast one) would be 57 Satoshi.
There will be a pull back on the 2nd Fib level (around 68 Satoshi).
Good luck with your trading.
Peyman.
Looking at the 4 hour chart, Doge have been in this downtrend channel for a while. Given the divergence pattern on the MACD indicator, now seems to be the time to break out of this channel. Moreover, looking at the RSI, bulls have some room to push the chart out of the channel.
I wouldn't go long unless I see the breakout from this channel.
First stop (probably easy and fast one) would be 57 Satoshi.
There will be a pull back on the 2nd Fib level (around 68 Satoshi).
Good luck with your trading.
Peyman.
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