We can see Doge’s price action has just recently breached the top trendline of this channel its been in for so long. Should it validate the breakout the target from here would be a measured move to 13 cents. Of course there’s always a decent chance that this candle could go back under the trendline before it closes, s as always patience must be exercised here. Of course the closer we get to confirming phase 2 of the bull season the less the priceaction of most chart patterns is going to dip back below the the trendline before the official breakout confirmations so its possible this could validate a breakout on this initial first brea above the trendline as well. I’m personally going to wait and see where this candle closes..I anticipate if it can close 3 consecutive daily candles above or maybe 1-2 weekly candles above the trendline then it is likely to validate. *not financial advice*
Comment:
It also just recently had a golden cross. Still early enough for this cross to be a fakeout but if we are truly in the begins of the thick f the bullish market cycle then it greatly enhances the probability that its golden cross will be sustained. Will have to wait a week or 2 to know for certain most likely.
Comment:
Doge wasn’t ready to trigger the Channel breakout and has gone back inside the channel for now though it’s still maintaining support on the top trendline of the purple triangle.