Dogecoin (DOGEUSD) Elliott Wave Technical Analysis 4 October 2022

Dogecoin (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave B

Direction Next higher Degrees: Wave (2) of Motive

Details: The price is still on a short-term downtrend. There is an opportunity to trade below 0.0491 but must not pullback above 0.068 

Wave Cancel invalid Level: 0.068

Dogecoin (DOGEUSD)Trading Strategy: Bear Market Efforts The price tends to trade below 0.0491, which could be an opportunity to open a short position. but must not pullback above 0.068

Dogecoin (DOGEUSD)Technical Indicators: The price is below the MA200, and

MASO line. momentum is bearish.

(Click on image to enlarge)

Dogecoin (DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: Wave (3) of Motive

Details: The price is still on a short-term downtrend. There is an opportunity to trade

below 0.0491 but must not pullback above 0.068

Wave Cancel invalid Level: 0.068

Dogecoin (DOGEUSD)Trading Strategy: Bear Market Efforts The price tends to trade

below 0.0491, which could be an opportunity to open a short position. but must not

pullback above 0.068

Dogecoin (DOGEUSD)Technical Indicators: The price is below the MA200, and

MASO line. momentum is bearish.

(Click on image to enlarge)


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