Dogecoin Doge Crypto Price News Today – Technical Analysis Now! Dogecoin Elliott Wave Analysis!
[Music] hello and welcome to another update video about Doge and Dogecoin did not manage to form a five W pattern to the upside therefore one more low is still likely okay so still though I’m watching this area currently that doge is coming down into to see if we get one more rally to get a five wve pattern to the upside it’s a diagonal pattern anyway as I mentioned before um that means um there is a chance even with a deep wave four that Doge yeah let’s say um is turning around to the upside let me actually change the wave degree here of this fourth wave that possibly bottomed on the 1st of May I mean that’s the idea at least we’re exploring that idea at the moment that the corre ction that started here around the 5th of March completed on the 1st of May in an ABC structure with the seawave being an ending diagonal then we had a substantial rally I think the likelihood is there that a low has formed but as always we need a first one two setup to prove it to to confirm it um at the moment we are seeing that test okay so doge is definitely undergoing that stress test at the moment in which a fourth wave um possibly bottomed and then yeah we’ve seen a rally and now we get the first decent pullback the problem the only problem I have with that and you you see how Doge phenomenally failed to create five waves up I mean this year would have been a nice fifth wave it should have done ideally this uh or at least here something you know one more high would have been ideal now so far it hasn’t done that and therefore I’m always saying that it’s so important to get these five waves up as a first confirmation that the low is in green candles alone are not enough for confirmation that the low is in yeah they can be an indication you know they can indicate the strength the volume and everything but from a structural point of view there’s nothing that would confirm that the low is in other than um a three-wave move up that is quite substantial and broke above the previous Highs but that is only an indication okay we need that one more High than at least we have five waves up in the um at the moment the market could um be following this fourth wave pullback here which yeah I mean could be wave four in a diagonal pattern this wave four is getting quite extended never a good sign but in a diagonal possible ideally um the 50% Fibonacci retracement is holding that’s at 14.5 cents now if we break below that level there’s still the 14 Cent level and you have to you have to know that in diagonals there isn’t really an invalidation point for a fourth wave until we break below the wave two low which is down here at 12.4 cents but uh it needs to have the right look at the moment I think it still is acceptable because wave fours are sometimes deep in diagonal patterns but if we see the price break below 12 point I mean again already below 14 cents I would not count it anymore as a fourth wave yeah I I technically uh yeah I don’t allow let’s say for for that possibility because it is in most cases then turning into something different still though if we see the price come down below 14 cents I’m still going to watch if we are in a wave two maybe and if it’s holding a higher low regardless than in a wave two um it would then be a different structure because the next move up is a larger fifth wave so could technically be an ending diagonal in which then the wave 1 is an ABC structure so ultimately it’s all about that’s the key level there right the 1 of May low at 12 basically 12 cent so um that’s the key level either it holds or doesn’t and if it’s holding and we rally now then I would consider that a fifth wave and if we break below 14 cents and then rally then I consider that third wave in an already unfolding larger degree fifth wave so the make a break point is clear it is the 12 cent level and against that there are a couple of bullish options I’m watching for but e regardless you know of which one it is there is currently it’s a knife cat at the moment and there is currently no indication that a local low has formed here next support is 14.5 cents that’s um Fibonacci support and then we’ve got the 14 Cent level which is not only the 61.8 retracement of the rally that started on the 1st of May and ended here on the 4th of May no not only the 61.8 retracement of that it’s also the 38.2 retracement of the larger degree third wave that ended on the 4th of March so there is some cluster of Support also we had previous structural support in that area here for example on the 29th of March then we had support around the 18th of April 19th of April yeah so that’s quite um quite noteworthy but overall at the moment selling pressure but also if I mean Bitcoin has a chance to turn around shortly so maybe Doge will do as well we talked about that obviously in the Bitcoin video so yeah that’s my update about do hope you likeed 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 bye-bye
Dogecoin Doge Crypto Price News Today – Technical Analysis Now! Dogecoin Elliott Wave Analysis!
—————————————————————————————–
🧿 MCO Global:
💻 https://www.mcoglobal.com/
🧿 Join the Morecryptoonline Crypto Service
👉 https://www.mcoglobal.com/subscriptions OR
👉 https://www.youtube.com/channel/UCngIhBkikUe6e7tZTjpKK7Q/join OR
👉 https://www.patreon.com/morecryptoonline
🧿 Join the S&P500 & Stocks Service
👉 https://www.patreon.com/moretradingonline
Subscribe for Free to More Trading Online:
🔔 https://www.youtube.com/@moretradingonline
Subscribe for Free to More Forex Online:
🔔 https://www.youtube.com/@moreforexonline
—————————————————————————————–
🧿 Social Media:
👉 WhatsApp News & Updates:
https://whatsapp.com/channel/0029VaZ0h5B3mFYBkWRWCY0K
👉 X / Twitter:
Tweets by Morecryptoonl
👉 Instagram:
https://www.instagram.com/morecryptoonline_official/
👉 Facebook:
https://facebook.com/morecryptoonline
👉 Linkedin:
https://www.linkedin.com/company/more-crypto-online/
👉 Tiktok:
@more_crypto_online
All MCO Global Links:
https://linktr.ee/morecryptoonline
✉️ In case of questions just reach out to us:
info@morecryptoonline.com
—————————————————————————————–
🧿 Exchanges / Products:
👉 Bitget:
Trade with Bitget: https://partner.bitget.com/bg/MoreCryptoOnline
Receive a $15 bonus
👉 Trade on Bybit:
Receive an up to $30,000 bonus (see terms on Bybit)
https://partner.bybit.com/b/MCO
👉 TradingView:
https://bit.ly/Crypto_Tradingview
👉 Trade on Coinbase:
Receive $10 in BTC (see terms on website):
https://bit.ly/MCOinbase
👉 Trade on Binance:
Receive a 15% fee discount (lifetime) when using this link.
https://accounts.binance.com/en/register?ref=XNWEZH08
👉 Trade on Kucoin:
Receive a 20% fee discount:
https://www.kucoin.com/r/af/QBSSSL4T
👉 Trade with eToro:
https://etoro.tw/3oFUKCk
👉 Trade with Trading212:
Receive shares worth up to $100:
https://bit.ly/Trading212MCO
👉 Protect your cryptocurrencies with Trezor:
https://bit.ly/morecryptoonline
👉 Protect your cryptocurrencies with Ledger:
https://shop.ledger.com/?r=0fb3c8be2e46
👉 Stay safe with NordVPN:
https://go.nordvpn.net/SH4s0
#dogecoin #doge cryptocurrencies #altcoins #elliottwave
3 Comments
Thank you❤
Hvala❤
🫶
❤