Hi!
Market Structure:
Dogecoin remains in a well-defined descending channel, confirming a sustained bearish trend. Price continues to print lower highs and lower lows, indicating that sellers are still in control on the 4H timeframe.
Pattern Development:
Within the channel, price consolidated into a bearish rectangle, which typically acts as a continuation pattern. The breakdown from this range aligns with the dominant downtrend and reinforces the bearish bias rather than signaling accumulation.
Trend & Momentum:
Repeated rejections from the upper channel boundary and the median line show weak bullish follow-through. Each corrective bounce has been sold aggressively, suggesting distribution rather than reversal.
Key Levels:
Resistance: Upper channel/rectangle top
Support: Channel lower boundary near 0.117–0.118
As long as DOGE trades below the descending channel resistance, downside pressure remains dominant. A continuation toward the lower channel support is favored. Only a confirmed breakout above the channel would neutralize the bearish structure.
Market Structure:
Dogecoin remains in a well-defined descending channel, confirming a sustained bearish trend. Price continues to print lower highs and lower lows, indicating that sellers are still in control on the 4H timeframe.
Pattern Development:
Within the channel, price consolidated into a bearish rectangle, which typically acts as a continuation pattern. The breakdown from this range aligns with the dominant downtrend and reinforces the bearish bias rather than signaling accumulation.
Trend & Momentum:
Repeated rejections from the upper channel boundary and the median line show weak bullish follow-through. Each corrective bounce has been sold aggressively, suggesting distribution rather than reversal.
Key Levels:
Resistance: Upper channel/rectangle top
Support: Channel lower boundary near 0.117–0.118
As long as DOGE trades below the descending channel resistance, downside pressure remains dominant. A continuation toward the lower channel support is favored. Only a confirmed breakout above the channel would neutralize the bearish structure.
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avatrade.com/trading-account?p=Webtrader&tag=220256
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🔴 Forex channel: t.me/melikatrader94GoldForex
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.