DOGE made a bullish break out of a bullish wedge inside of a larger bullish wedge and could complete an inverse h&s pattern in the next few hours.
Target: moon
NFA
Comment:
Obviously it did NOT complete the h&s.
Next targets: Green box is an area of suppot; Fib 0.382; 20MA (red line); blue trend line between the 20MA & the 50MA; 0.236 Fib; 200MA.
RSI is approaching oversold on the hourly, but it isn't there yet.
MACD is clearly bearish on the hourly timeframe.
The 4 hour timeframe is similarly bearish.
On the 1 day timeframe, the current candle has fallen back into big bearish wedge with a potential bearish MACD crossover. RSI is approaching the 50 from above which doesn't instill confidence.
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Next targets: Green box is an area of suppot; Fib 0.382; 20MA (red line); blue trend line between the 20MA & the 50MA; 0.236 Fib; 200MA.
RSI is approaching oversold on the hourly, but it isn't there yet.
MACD is clearly bearish on the hourly timeframe.
The 4 hour timeframe is similarly bearish.
On the 1 day timeframe, the current candle has fallen back into big bearish wedge with a potential bearish MACD crossover. RSI is approaching the 50 from above which doesn't instill confidence.