DOGE/USD has been bearish since June 2021
The sellers have been resilient and have been dominant for most of the time.
Price pushed upward recently, but unfortunately for Dogecoin holders price has formed a head and shoulders, signifying a reversal/continuation to the downside.
Price is now moving up, we should expect a retest of the neckline of the Head and Shoulders or the recent low, these areas are where we should look to enter, having our TP in green.
To add confluence, price had originally been moving downwards, as highlighted by the trendlines, a bearish flag pattern has been formed, signifying continuations to the downside along with the trendline breakout.
CURRENCYCOM:DOGEUSD
The sellers have been resilient and have been dominant for most of the time.
Price pushed upward recently, but unfortunately for Dogecoin holders price has formed a head and shoulders, signifying a reversal/continuation to the downside.
Price is now moving up, we should expect a retest of the neckline of the Head and Shoulders or the recent low, these areas are where we should look to enter, having our TP in green.
To add confluence, price had originally been moving downwards, as highlighted by the trendlines, a bearish flag pattern has been formed, signifying continuations to the downside along with the trendline breakout.
CURRENCYCOM:DOGEUSD