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 yeah it’s been a few days Doge um has so far done what it’s needed to do to complete a wave four as a corrective structure we only talked about it um a few days ago and we were looking for potentially another low and

Uh we’ll zoom in in a minute and take a look at that and that one more low happened I think today actually so let’s take a look at the structure again let’s talk about the short-term bullish as well as short-term bearish scenario and which level distinguishes between them

So first of all because it’s an overall bullish Market even though the overall structure here is extremely messy I am still watching for potentially another high yeah so because of the bullish Market I’m leaning to the idea that this is a diagonal pattern um any sustained break below the golden ratio here will

Make the chart far less reliable and overall the the structure is already characterized by a lot of messy price action a lot of overlapping unclear price action when we talk about micro counting that doesn’t make any sense here but you know we have three waves up this is clearly at least a wave

Four and we defined in the previous videos a support area basically Target area for this Wave 4 this area was reached the price shows an initial reaction but nothing substantial and really it should turn around here or it will probably invalidate this diagonal pattern so for a diagonal pattern um we

Need to see five waves up complete the fifth wave should reach 11.5 cents plus in this case and possibly the top of the upper boundary line yeah of the um or the upper boundary line of that ascending price Channel but really it should turn around here why because as

You can see the price has already retraced nearly 61.8% of the length of the third wave and that’s already very deep for a away for I mean at the moment looks good if it turns to the upside now perfect um let’s talk about what so first of all I

Assume this is already the third wave top why because it reached the 1.38 extension of the wave 1 that’s an ideal Target for a third wave so that means in any pullback we can then use the golden ratio as support if that breaks then the pullback is too

Deep to be a reliable wave four um but it won’t invalidate a wave four because really strictly speaking the invalidation point for a wave four in a diagonal is the low of the wave two so we talk about 5.6 Cent so I just want to mention that in most cases in a diagonal

The golden ratio at the latest leads to a turnaround in the rally in the wave five but of course of course there might be a few cases where um The Wave four breaks through and then still recovers at some point because the invalidation point as I said is the low of the wave

Two but in most cases this would be to will be too low for a reliable wave four so we can only identify areas of probability and I can only highlight to you that the ascending trend line also could provide some additional support so it might be worth watching here for

Potential reactions most importantly the market has uh shown us an a wve a b wve and a c-wave complete so this could be complete but it takes a break above 8.5 cents minimally to suggest that this wave four is over and the wave five is starting the wave five is likely going

To be as messy as waves 1 and three if it happens if it doesn’t happen then the chart topped in an ABC structure and it will make the entire chart extremely unreliable so as long as the 7.2 Cent level is holding I’m going to look for

One more High yeah Target area is clear if we break it it really considers close observation um of the wave structure that we will have then to understand if you know what has changed then is it an ABC are we going to head to new lows and

But so it’s always not very desirable because all it is then it’s an ABC structure and it could easily take it um lower into the yellow larger support area to 5 cents and Below but for now because it is an overall bullish Market we’re watching for higher give it the

Chance but it really should um show a reaction here and so far it’s not convincing that’s my update about do hope you like the update if you did please hit the like button leave a comment and subscribe and if you really like the content then please check out

The channel membership also make sure that you follow us on Instagram and Twitter for additional content thanks a lot for watching [Applause] bye-bye