E Dogecoin And Shiba Inu Elliott Wave Analysis

  • Major altcoins bounce and trade at wave 4 resistance
  • Dogecoin still eyes down to 0.13 level
  • Shiba Inu doesn't have any evidences for the bottom 

We can see a solid, strong bounce in the Crypto market, but we have three waves up on the intraday basis at the moment, so no confirmation for the bottom yet, and watch out for another decline to complete an intraday five-wave cycle before the market finds the bottom. Major ALTcoins look clearly bearish, currently at the resistance for wave 4.

Dogecoin - DOGEUSD is coming nicely lower out of bearish wave »b« triangle as expected and looks like it can be still hunting that projected 0.13 support, ideally within a five-wave cycle for wave »c«. Only a recovery back above 0.34 region would be signal for a completed wave »c«.

DOGEUSD 4h Elliott Wave Analysis Chart

Dogecoin Elliott wave analysis

SHIBUSD doesn't show any evidences for the bottom yet, so it could be still trading in a bigger running triangle within wave 4 that can send the price even lower for wave 5 of (C) or alternatively higher degree wave (A).

SHIBUSD 4h Elliott Wave Analysis Chart

Siba Inu Elliott Wave analysis

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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