Dogecoin Elliott Wave technical analysis [Video]
![Dogecoin Elliott Wave technical analysis [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Dogecoin/Doge_Coin_31_02.jpg)
DOGE/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Zigazg.
Position: Wave ((C)).
Direction next higher degrees: Wave I of Impulse.
Details: The corrective of Wave 4 before entry to uptrend again.
Dogecoin/ U.S. dollar (DOGEUSD) Trading Strategy: The fourth wave correction is likely to go down to test the 0.1169 level before rising again in the fifth wave. Therefore, the overall outlook is for a short-term pullback to continue rising. Wait for the correction to complete to re-enter the trend.
Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
DOGE/USD Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (5).
Direction next higher degrees: Wave ((C)) of Zigzag
Details: We missing one Move down in wave 5 before the price entry to Uptrend again
Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy: A fourth wave correction came before falling again in the fifth wave. Therefore, the overall picture is a continuous decline. Wait for the correction to complete to re-enter the trend
Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
Dogecoin Elliott Wave technical analysis [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
