DOGECOIN-4H–The price bounced back up to the retracement zone!

DOGECOIN-4H–The price bounced back up to the retracement zone!

DOGECOIN-4H–The price bounced back up to the retracement zone!

Dogecoin / US Dollar BITTREX:DOGEUSD

Yesterday and the day before yesterday the price tried to break down the support at 0.1655, but all attempts failed. Today, on the four hours chart the price bounced back up to the retracement zone between 0.24 and 0.21 and it’s still trying to break it out. If breakout happens, we expect the price will go up to the retracement zone on the daily chart to retest the resistance between 0.29 and 0.28. If the breakout fails, on the other hand, the price will bounce back down to retest the support 0.1655, and the trend down will continue. The main trend on the four hours chart is still bearish , and on the daily chart we now have a lower low! For holders, the best place to buy more is at 0.165 and at 0.08. We will update the chart if anything changes.

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GOOD LUCK

Bitcoin