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Dogecoin searches support before turning higher

  • Crypto market faces sharp intraday turndown.

  • Be aware of final decline back to lows.

  • Dogecoin price may face deeper and complex moves.

Dogecoin searches support before turning higher
Gregor HorvatGregor HorvatWavetraders

Looking at cryptocurrencies, after the recent slow price action and sideways corrective wave structure, we can now see a sharp intraday turn down, so seems like bears are still in control and we can see more weakness this week, so carefully and be aware of that final decline back to lows before bulls show up.

DOGEUSD is still doing well for now and we may see more upside once an intraday pullback in wave »b«/«ii« fully unfolds. However, because of the still bearish looking Crypto market, please keep in mind that a strong 0.13 support level is still open, so be aware of a deeper and more complex 7-swing w-x-y corrective decline that can retest the lows and 0.13 support zone before real bulls show up.

Dogecoin 4h Elliott Wave analysis chart #count1

Dogecoin

Dogecoin 4h Elliott Wave analysis chart #count2

Dogecoin

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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