DOGE Dogecoin: Re-Test of Channel
Hello friends, today you can review the short-term technical analysis on a 1H linear scale chart for Dogecoin ( DOGEUSD ), a cryptocurrency.
1) Dogecoin price broke out of a multi-day Parallel Channel with respective support and resistance areas.
2) The price may come back down to the 0.236 Fibonacci Retracement area at the top of the channel before moving back up.
3) The target price of the breakout of the parallel channel has already been met, but there may be a chance to go back up as Volume is back in.
4) The RSI (relative strength index) is being supported by a trendline which it may come back down to re-test.
5) The upside idea may be invalidated if the price comes back into the Parallel Channel.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
1) Dogecoin price broke out of a multi-day Parallel Channel with respective support and resistance areas.
2) The price may come back down to the 0.236 Fibonacci Retracement area at the top of the channel before moving back up.
3) The target price of the breakout of the parallel channel has already been met, but there may be a chance to go back up as Volume is back in.
4) The RSI (relative strength index) is being supported by a trendline which it may come back down to re-test.
5) The upside idea may be invalidated if the price comes back into the Parallel Channel.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
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