Elliott wave analysis Trading Lounge daily chart,
DOGE/USD Elliott Wave Technical Analysis
Function: Counter trend.
Mode: Fixed.
Structure: double orthodontic.
Position: Wave Y.
Next highest degree direction: impulse wave (II).
Details: Wave (II) may not be completed and the price may fall below 0.076.
Dogecoin/USD (DOGEUSD) Trading Strategy: The overall picture is short-term as this is a 5-wave retracement of wave (C), which is in the final stages of wave Y and is likely to test the 0.076 level. Retracement before the next rally.
Dogecoin/USD (DOGEUSD) Technical Indicators: Price is below MA200, indicating a downtrend. The wave oscillator has bearish momentum.
DOGE/USD Elliott Wave Technical Analysis
Function: Counter trend.
Mode: Fixed.
Structure: double orthodontic.
Position: Wave Y.
Direction Next highest degree: Impulse wave (II).
Details: Wave (II) may not be completed and the price may fall below 0.076.
Dogecoin/USD (DOGEUSD) Trading Strategy: The overall picture is short-term as this is a 5-wave retracement of wave (C), which is in the final stages of wave Y and is likely to test the 0.076 level. Retracement before the next rally.
Dogecoin/USD (DOGEUSD) Technical Indicators: Price is below MA200, indicating a downtrend. The wave oscillator is bearish momentum.
