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]