Dogecoin Elliott Wave technical analysis [Video]
|Dogecoin Elliott Wave analysis daily chart
Function: Counter trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave Y.
Direction Next higher Degrees: Wave (II) of Impulse.
Details: Wave (II) may not be complete, price is likely to be below 0.076.
Dogecoin/ U.S. dollar (DOGEUSD) Trading Strategy: This is a 5 wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level, so the overall picture is a short term retracement before another rally.
Dogecoin/ U.S. dollar (DOGEUSD) Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
DOGE/USD four-hour chart
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction Next higher Degrees: wave (II) of Impulse
Details: Wave (II) may not be complete, price is likely to be below 0.076
Dogecoin/ US dollar (DOGEUSD) Trading Strategy: This is a 5 wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level, so the overall picture is a short term retracement before another rally.
Dogecoin/ US dollar (DOGEUSD) Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
Dogecoin Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.