Pic source

Dogecoin Technical analysis

Hello everyone welcome back to another update

Hello, ladies and gentlemen as you guys can see on Doge we are currently testing a very key resistance here at 0.168$ and yesterday I mentioned the fact that if Doge were to break below this key support level and Wick lows at 0.148 we are looking for a further continuation to the downside...

A long position on this original breakout our main target was at 0.21$$ and we took profits along the whole way towards the upside we also bought the dip opportunity here at 0.124$$ and yes if the wick low is broken at 0.146$ the reason why we would become a little bit more bearish is because we already had a one-test a second test and on the third test we tend to see a breakdown formation the only time we have a bullish confirmation is if the Bulls can break Above resistance level and use this level as support as of right now you can see that the Bulls are struggling to break above 0.168$ and even catch a bid in terms of that support if of course we do see volume later in the evening and of course with weekends as well we tend to see a lack of liquidity if we do see any sort of breakout of this Wick High here at 0.182$ then we can start focusing more on our main target at 0.21$..

I mentioned the fact that in this region we are not looking for any trades because this is a consolidation Zone you can see from the previous price analysis we had our exponential moving averages being used as support on the way toward the upside but now we have a period of stagnancy so you can see that we were just pretty much dead in the water right these show the exponential moving averages were going sideways which of course means that we are in a position of indecisiveness you don't necessarily want to trade that indecisive Zone because if you do end up getting caught out it tends to be extremely dangerous

In the daily time frame, you will see that we are still in between these exponential moving averages rather but we have not seen any test on our 20 EMA this is why I'm focusing heavily on the 20 exponential moving average because we may see that flush opportunity like we saw before grab that liquidity down there and then we start seeing a continuation overall even on the daily if you notice that we had one two three four test opportunities and we failed to hold this level as support you have to understand the fact that we also came from 0.08$ so coming from 0.08$ into 0.20$ from a spot position is a pretty large increase regardless how you see it there is going to be some profit taking happening along the way but of course, if the Bulls can manage to break above 0.21$ we are expecting that massive short squeeze on Doge into the 0.45$ even the 0.6$ region but that's pretty much

see you in another update Please Don't forget to upvote, resteem, and comment...