Dogecoin Elliott Wave technical analysis [Video]

DOGE/USD Elliott Wave technical analysis 

Function: Counter trend.

Mode: Corrective.

Structure: Zigzag.

Position: Wave ((C)).

Direction next higher degrees: Wave I of impulse.

Details: Wave ((4) May is complete and the price entry to uptrend again.

DOGE/USD trading strategy

Dogecoin overall is still in the period of correction. In the position of wave (II) with a zigzag pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.

DOGE/USD technical indicators

The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.

DOGE/USD Elliott Wave technical analysis 

Function: Counter trend.

Mode: Corrective. 

Structure: Zigzag.

Position: Wave A.

Direction next higher degrees: Wave V of impulse.

Details: Wave ((2)) is equal to 61.8% of wave ((1)) at 0.1373.

DOGE/USD trading strategy

Dogecoin overall is still in the period of correction. In the position of wave (II) with a zigzag pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.

DOGE/USD technical indicators

The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.

DOGE/USD Elliott Wave technical analysis [Video]