$DOGS Fake Breakout Confirmed — Will the Next 15% Drop Come?
DOGS failed to break above the resistance zone and instead formed a clear Fake Breakout.
Price has already returned below the resistance level and, most importantly, has not managed to reclaim $0.000047—the main trading level. The previous daily candle also closed below this level, indicating that sellers still retain control over the current structure.
As long as DOGS remains below the Resistance Zone and the $0.000047 level, I expect the correction to continue.
The next key downward target is the important $0.000035 trading level; this would imply at least a 15% potential drop from the current structure.
A successful reclaim of $0.000047 would be the first serious signal that the bearish scenario is weakening.
Will DOGS first reach $0.000035, or will it reclaim $0.000047?
#Dogs
DOGS failed to break above the resistance zone and instead formed a clear Fake Breakout.
Price has already returned below the resistance level and, most importantly, has not managed to reclaim $0.000047—the main trading level. The previous daily candle also closed below this level, indicating that sellers still retain control over the current structure.
As long as DOGS remains below the Resistance Zone and the $0.000047 level, I expect the correction to continue.
The next key downward target is the important $0.000035 trading level; this would imply at least a 15% potential drop from the current structure.
A successful reclaim of $0.000047 would be the first serious signal that the bearish scenario is weakening.
Will DOGS first reach $0.000035, or will it reclaim $0.000047?
#Dogs
