$DOG TA & an important lesson:
- When you can’t understand what’s going on with charts, go to uncommon time frames, in this case I went to 7 hours.
Picture 1:
- $DOG has made a falling wedge pattern, which is super bullish.
- an active divergence (green arrows), they don’t mean trend reversal alone, but a key point.
-Also in the RSI (white arrow) price is above the based MA which is bullish.
Picture 2: (lesson)
- When you wanna use indicators for TA you should change the setting according to each asset.
- in $DOG case, on daily chart, RSI Lower Band should be set to 33, because this is where every time the price has touched, got bounced.
( blue arrows), just once it didn’t happen (white arrow) which was our daily divergence, that turned price to the upside.
- right now, on daily time frame RSI we have a double button, and the price is above yellow based MA.
—— price can go up from here, if for any reason it drops, 0.0037 is my strongest support, and I can see a divergence happening as well.
#dog
#DOG #DOG