A $DOOD 5-minute pullback of 4.9%, with the current price at 0.002724. There are two possibilities from here:
① If it consolidates on lower volume and gets back above where the decline began, this move looks more like a shakeout.
② If the rebound fails to reclaim that level and the price breaks below the 24-hour low of 0.001326, the downtrend will likely continue.
I’d personally wait to see how strong the first rebound is before drawing a conclusion. Will the market change direction next?
① If it consolidates on lower volume and gets back above where the decline began, this move looks more like a shakeout.
② If the rebound fails to reclaim that level and the price breaks below the 24-hour low of 0.001326, the downtrend will likely continue.
I’d personally wait to see how strong the first rebound is before drawing a conclusion. Will the market change direction next?