DODO has been newly added to the Binance exchange around two weeks ago. Since it's inception, DODO has faced strong bearish pressure, leading to a vast decline in value over the course of two weeks.
Today, DODO has seemingly breached this pattern and it is showing some bullish price action. Higher highs and higher lows are a prime indicator for a bullish trend.
This trade is based on the idea that DODO will hit R1 and reverse towards the Entry line. Once it has done that, this signal is valid. Before entering this trade wait for the price to touch the Entry line.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
Today, DODO has seemingly breached this pattern and it is showing some bullish price action. Higher highs and higher lows are a prime indicator for a bullish trend.
This trade is based on the idea that DODO will hit R1 and reverse towards the Entry line. Once it has done that, this signal is valid. Before entering this trade wait for the price to touch the Entry line.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
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