DOGE - where do we go from here?
Recap
1. Price going higher with decreasing volume
2. RSI bearish divergence
3. Price broke down below 20 (orange shade) and 50 (red shade) of the 4H EMA
4. Price bounced off 200 (purple shade) 4H EMA
See the same pattern from mid to late April before the latest run.
What's next?
In the next week or 2, I'm NEUTRAL.
I see interest dying down, low volume, short term traders had taken profit (sell low), hodlers holding, low # of buyers. Doge likely will range-bound around the 20 and 50 EMA - 40-45cent mark while awaiting the next rumor.
HAPPY TRADING!
Recap
1. Price going higher with decreasing volume
2. RSI bearish divergence
3. Price broke down below 20 (orange shade) and 50 (red shade) of the 4H EMA
4. Price bounced off 200 (purple shade) 4H EMA
See the same pattern from mid to late April before the latest run.
What's next?
In the next week or 2, I'm NEUTRAL.
I see interest dying down, low volume, short term traders had taken profit (sell low), hodlers holding, low # of buyers. Doge likely will range-bound around the 20 and 50 EMA - 40-45cent mark while awaiting the next rumor.
HAPPY TRADING!
