Weird course of events.
The H+S pattern didn't materialize as I thought it would as the price action bounced off of a trendline that had more support in this environment than I had thought possible. I definitely didn't expect that, but at that moment there was a lot of hype and we were far enough below the ATH that the force of hysteria drove it upward. I'm still calling the buy signal below where we are, but I'm not as convinced it'll go all the way down to .05 as I did before. I think we'll find significant support at .067, but I won't buy in there. There may, at that point, be enough downward pressure to drive it lower, so we'll see. If it breaks through .062 there will be support at .055 again, and then we may see it go yet lower. It depends on how emotional the $doge crowd is.
The H+S pattern didn't materialize as I thought it would as the price action bounced off of a trendline that had more support in this environment than I had thought possible. I definitely didn't expect that, but at that moment there was a lot of hype and we were far enough below the ATH that the force of hysteria drove it upward. I'm still calling the buy signal below where we are, but I'm not as convinced it'll go all the way down to .05 as I did before. I think we'll find significant support at .067, but I won't buy in there. There may, at that point, be enough downward pressure to drive it lower, so we'll see. If it breaks through .062 there will be support at .055 again, and then we may see it go yet lower. It depends on how emotional the $doge crowd is.
Commentaire:
As predicted, five separate bounces from just above .067 so far. Lower highs as those taps at .067 have taken place. Next is a break of this support after perhaps another small burst upward.
