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Dogecoin Technical analysis

Hello everyone welcome back to another update

Hello ladies and gentlemen as you guys can see on Doge we did end up breaking below our exponential moving averages and now we are currently retesting them as resistance I mentioned to you guys yesterday that if we do end up breaking below those EMAs it is going to be of course Very crucial for the Bulls to manage to hold above and you can see that now that we have flipped into resistance we are looking for a possible third retest on 0.124$ we had the first retest down here the second retest as of right now and of course, a third retest would usually means a break formation or of course a continuation towards the downside so we have to be very careful here now what I mean by continuation to the downside it simply just means on the third test we probably will end up seeing a wicked opportunity possibly into 0.11$ if we do end up seeing that of the course is the range to be looking for those buy opportunities just like we had this range here at 0.124$ for a buying opportunity you can see on the daily time frame as well we have our 20 exponential moving average that has not been tested as of right now which is why I'm leaning toward a third test opportunity at 0.124$

The Daily time frame usually acts as a beautiful magnet when you are completely over leveraged so as you can see we had a complete breakout structure in this Zone but we never really retested the 20 EMA that level will most likely act as a stronger magnet we tend to hit that level first and then we see a continuation the dump opportunity we had two days ago you can see that we never really saw that retest opportunity so this is why I'm leaning towards a more bearish picture as of right now on Doge

In the 4-hour time frame, the 0.168$ level had to be used as support for us to have a bullish confirmation as of right now you can see that we do not have a support retest instead we are using the EM as resistance and yesterday I mentioned to you guys it's going to be crucial for the Bulls to hold these exponential moving averages or of course we will start leaning towards that bearish picture as of right now we are in this consolidation stage but any Wick low break so anything below this Wick here at 0.145 is going to be the confirmation to start looking for shorting opportunities on Doge so if you are paying attention to the Chart all you have to do is waiting for this Wick low to break once that level breaks that's your confirmation that we are looking for a third test opportunity and you can position yourselves accordingly but that's pretty much

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