Dogecoin Doge Crypto Price News Today – Technical Analysis Now! Dogecoin Elliott Wave Analysis!

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Hello and welcome to another update video about Doge on the Doge chart um the price has broken out of a small descending wedge pattern we’re going to zoom in in a minute the overall situation on the Doge chart is a little bit ambiguous we are tracking this

Potential five wve move to the upside talked about it in previous videos we’re dealing here with a potential diagonal leading diagonal which ideally forms five waves up next upside targets are between 11.5 cents and 13.7 so we’ve got the 11.5 Cent level as the 1.618 extension level the 1.78 6

Extension 12.4 cents and the 200% extension level at 13.7 sense um so far it appears the market completed a one and a two and we’re now in the third wave well no the third could be complete we’re now in the fourth and then a fifth wave to the

Upside should still unfold um would like to see a little bit more of a pronounced wave four if you know if possible um wave fours are always terrible because they can you know you get fake outs and stuff like that so either the wave four is already in but that would be

Extremely shallow I wouldn’t believe that without further Evidence either way support is down at 7.2 cents so against that level we focus on higher uh only the market knows how low we go but if I you know if I relate it two probabilities typically what we’d like

To see is the market move to the 38.2 FIB level or the 50% so 8.4 cents or 7.7 cents and that could be within the yellow count that we say Okay possibly we bottomed in an a-wave now it’s for forming a b-wave yeah and then the move

Down in a c-wave and then the wave four will sit here so that’s possible these are the two possibilities within this um support Zone within this wave four there was a breakout of this wedge pattern but not really anything impulsive yet um the question that that’s one of the

Challenges with this chart I mentioned that before you know where is really the low was the wave too low here or was it a little higher was it here yeah um because there are some charts where these Wicks do not exist that obviously um makes you wonder okay

Should I move the fips higher but it wouldn’t really make a great difference but it is some of the it is one of the problems that we sometimes have with crypto charts we just have to be a little bit flexible but for me to take the actual low of this wave to to

Measure the retracement area for the wave four seems the right approach now if we assume that often times or we know that often times wave four has at least the same length as a wave 2 in crypto well the wave four could technically be finished I mean uh it’s for me it’s not

Healthy enough I’d like to see a little bit more of a of a sideways correction or few more days or maybe even one or two weeks um maybe even touch the 38.2 Fibonacci level would be ideal but um yeah let’s see there is there is standard resistance that we can add to

This chart so where we say okay if if this is only the a-wave yeah and then we get a b-wave rally typically such a b-wave should not and this is not a must you know it’s again just another indicator but typically should not break above the 78.6 retracement level of the

A-wave to the downside that level is at 10.3 cents so it’s not an invalidation point or anything and b-waves can overshoot be aware of that but if the b-wave breaks above the 10.3 Cent level it might indicate that we already in the fifth wave either way the setup there

Will be an interesting setup as soon as we have all five waves complete and then that three-wave pullback could offer uh an interesting setup for a third wave rally higher because this five wve move up would count as a so-called wave one or at least we can work with that assumption

And then the pullback would be called The Wave two so it’s it’s an ABC structure it’s a corrective pullback five waves up show us where the trend goes so that’s why there is a need that we get five waves to to be more bullish overall yeah and have more confidence

Into an uptrend and the expectation for a fifth wave rally is um reasonable as long as the 7.2 Cent level is holding but yeah afterwards we should get this ABC pullback and that would be a three-wave move five up three down that’s the most simple form of trend so

Once we have those five waves we’re going to add a support support level to the chart for this Wave 2 and then we can use that maybe to scale in for a third wave rally afterwards yeah that’s my update about Dogecoin hope you like the update if you did please hit the

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