DOGE 1-Hr Movement
When I am looking at the most recent movement across the 1-hr chart, there a few things that have become apparent. First, we see that there is a bull pennant forming, almost textbook. Second, we see a double bottom with a most recent candlestick formation of bull engulfing. This is really a video of me point out some of the basic formations that I see along with reason to believe in short uptick with a delayed pull back.
Uptick Reasons:
- Oscillator around 50
- Bullish engulfing
- Bull pennant
- Double bottom formation
- Cup formation with a long pole uptrend
Pullback Reasons:
- Dramatic volume decrease
- RSI above 80
- MACD 26 period crossing over 12 period signaling sell-off
Uptick Reasons:
- Oscillator around 50
- Bullish engulfing
- Bull pennant
- Double bottom formation
- Cup formation with a long pole uptrend
Pullback Reasons:
- Dramatic volume decrease
- RSI above 80
- MACD 26 period crossing over 12 period signaling sell-off
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