Dogecoin Elliott Wave technical analysis [Video]
|DOGE/USD – Elliott Wave technical analysis – Daily chart
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 3.
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Direction (next higher degrees): Pending.
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Invalidation level: Pending.
DOGE/USD – Trading strategy
Overview
Wave (2) completed between 0.16113–0.16525 as a Zigzag correction. The price has now moved into the final phase of wave 3, which includes five sub-waves. A short-term retracement could occur, targeting 0.22363.
Trading strategies
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Swing trade strategy (short-term traders):
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Watch for the end of wave 5 near 0.2236 and consider booking partial profits.
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Monitor for signs of divergence or weakening momentum near this level to prepare for wave (4) correction.
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Invalidation point:
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The uptrend structure is invalidated if the price falls below 0.18000.
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DOGE/USD Elliott Wave technical analysis – Four-hour chart
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Function: Follow Trend
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Mode: Motive
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Structure: Impulse
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Position: Wave 3
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Direction (Next Higher Degrees): Pending
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Invalidation Level: Pending
DOGE/USD – Trading strategy recap
Overview
Wave (2) ended between 0.16113–0.16525, following a Zigzag structure. Price is in the latter part of wave 3, expected to peak around 0.22363.
Trading strategies
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Swing trade strategy (short-term):
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Consider profit-taking as wave 5 concludes near 0.2236.
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Watch for divergence or slowing momentum as possible signals to prepare for a correction wave.
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Invalidation level:
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The structure becomes invalid if the price dips below 0.18000.
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Dogecoin Elliott Wave technical analysis [Video]
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