DODOUSDT has recently experienced a massive breakout from a falling wedge pattern.
The falling wedge is a technical chart pattern that occurs when the price of an asset is in a downtrend and begins to consolidate within a narrowing range, forming a wedge shape. This pattern typically signals that a bullish reversal is imminent, as the price is likely to break out from the wedge pattern and continue higher.
In the case of DODOUSDT, the price broke out from the falling wedge pattern in the $0.1 area and experienced a massive bullish impulse.
This breakout was likely driven by increased demand for it, as well as positive news or developments within the DODO ecosystem.
However, in order for the price to continue its upward trend, it will need to create a new breakout from the daily resistance level. This may require a period of consolidation or even a retracement, as traders take profits and reassess their positions. According to Plancton's rules, this could present a buying opportunity for long-term investors who believe in the potential of DODO USDT.
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Follow the Shrimp 🦐
Keep in mind.
The falling wedge is a technical chart pattern that occurs when the price of an asset is in a downtrend and begins to consolidate within a narrowing range, forming a wedge shape. This pattern typically signals that a bullish reversal is imminent, as the price is likely to break out from the wedge pattern and continue higher.
In the case of DODOUSDT, the price broke out from the falling wedge pattern in the $0.1 area and experienced a massive bullish impulse.
This breakout was likely driven by increased demand for it, as well as positive news or developments within the DODO ecosystem.
However, in order for the price to continue its upward trend, it will need to create a new breakout from the daily resistance level. This may require a period of consolidation or even a retracement, as traders take profits and reassess their positions. According to Plancton's rules, this could present a buying opportunity for long-term investors who believe in the potential of DODO USDT.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.