🔥 DOGE Bullish Triangle Reversal Trade

8 мар. 2021 г.

DOGE has slowly but surely been showing more bullish behaviour over the last few weeks. After the fall of 23/02 the local lows are getting higher and higher. For now, the 0.06 area seems like a strong area of resistance. This trade is based on the idea that the resistance (R1) will hold and DOGE will fall back to the lower triangle support in the coming hours. After hitting the entry line, the expectation is that DOGE will reverse once more towards R1 and potentially R2.

Before entering this trade wait for the price to touch the Entry line. Higher time frames yield a higher predictive power.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.

Happy trading!