Hello everyone, we are waiting for the weekly candle to close ⬇️
As practice shows, when the body of a candle closes behind the support level of an uptrend, it provokes the price to move down, and the trend becomes bearish 🐻.
Example:
On the daily chart #Dogecoin the price is in a downward trend, and therefore the priority is for the price to fall.
After the latest news: (SEC) filed a lawsuit against Binance, the price of coins has dropped significantly 📉. #DOGEUSD itself reached a strong horizontal level of 0.06296:
Subject to all of the above, an additional factor for a fall #Doge will be a breakdown of the level of 0.06245, the target for the fall will be the level of 0.05745. This corridor was previously used in August last year.
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* Breakout is the closing of the candle body beyond the specified level. * Rollback is a level upon reaching which, with a high probability, the price may begin to correct to the previous, breakthrough level or go into a deeper correction to the level of resistance or support of the main trend. You can record your profit without waiting for your goal. Use positive sl and trailing stop
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Thank you all for your support! I wish you all success!
