DOGE: Bulls Charging! Breakout Potential Looms
💎DOGE has broken out of a resistive trendline and formed a W pattern on the support zone, while its price also shows a Change of Character (CHoCH) towards a bullish structure. This suggests a potential bullish move after a pullback or the breakout of the previous high (1st resistance level).
💎If DOGEUSDT breaks above the first resistance area, it will be considered a Break of Structure (BOS), confirming the bullish structure, and we can anticipate further movement towards the bullish side.
💎In the event of a pullback, we can anticipate a bounce from the support level, which also coincides with a bullish Order Block (OB).
💎However, if the price breaks below the support level, it would be advisable to refrain from trading DOGE and wait for the market structure to provide clearer signals.
💎If DOGEUSDT breaks above the first resistance area, it will be considered a Break of Structure (BOS), confirming the bullish structure, and we can anticipate further movement towards the bullish side.
💎In the event of a pullback, we can anticipate a bounce from the support level, which also coincides with a bullish Order Block (OB).
💎However, if the price breaks below the support level, it would be advisable to refrain from trading DOGE and wait for the market structure to provide clearer signals.
Penafian
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