DOGE May find support at 0.09xx by then end of March REVISED
I am using the LINE chart rather than the candle chart, in order to have a microscopic view.
All notes from previous revisions hold.
Use the channels in different colors to see changes in direction.
From the RED channel it switched to the GREY channel and within in it seems to have taken a turn to the PURPLE steep channel; it makes sense as it approaches an ‘end of cycle’, as the LILAC VOLUME rectangle approaches and end, confirmed by the two GREEN ARROWS of parallel volume.
I also see a small HEAD AND SHOULDERS has taken place; when you measure the distance of the HEAD to the NECK it points to the PINK RECTANGLE area, look at the YELLOW lines solid and dotted for measurement only.
The RED arrows point to a strong line of support; but the PURPLE thick lines are also strong support and resistance. A previous HEAD AND SHOULDER marked in RED also point to the PINK rectangle when the Head to Shoulder is measured. There are two faint parallel lines at (Feb 19th and 20th) the end of the READ Head and Shoulder, that can be used for measurement only, they do not point to anything.
The difference between the dotted and solid lines is that one points to the LINE chart and the other points to the CANDLE chart.
It is a lot of information in one chart but just follow the channels for support and resistance. I do not use any particular Indicators, just volume behavior with the UO. Notice the discrepancy as the UO is up while the LINE chart Head and Shoulder is down. This is also a sign that a reversal is in the works.
All notes from previous revisions hold.
Use the channels in different colors to see changes in direction.
From the RED channel it switched to the GREY channel and within in it seems to have taken a turn to the PURPLE steep channel; it makes sense as it approaches an ‘end of cycle’, as the LILAC VOLUME rectangle approaches and end, confirmed by the two GREEN ARROWS of parallel volume.
I also see a small HEAD AND SHOULDERS has taken place; when you measure the distance of the HEAD to the NECK it points to the PINK RECTANGLE area, look at the YELLOW lines solid and dotted for measurement only.
The RED arrows point to a strong line of support; but the PURPLE thick lines are also strong support and resistance. A previous HEAD AND SHOULDER marked in RED also point to the PINK rectangle when the Head to Shoulder is measured. There are two faint parallel lines at (Feb 19th and 20th) the end of the READ Head and Shoulder, that can be used for measurement only, they do not point to anything.
The difference between the dotted and solid lines is that one points to the LINE chart and the other points to the CANDLE chart.
It is a lot of information in one chart but just follow the channels for support and resistance. I do not use any particular Indicators, just volume behavior with the UO. Notice the discrepancy as the UO is up while the LINE chart Head and Shoulder is down. This is also a sign that a reversal is in the works.
