Elliott Wave Analysis: Dogecoin

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Aug 18, 2022 at 5:10 AM EDT

Dogecoin trading strategy: Wave ((4)) seems to have finished and the price will drop again on wave ((5)), so it's good to look for another opportunity to join the downtrend.

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Elliott Wave Analysis TradingLounge Daily Chart, 18 August 2022, Dogecoin(DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: wave ((4)) of Impulse Details: reduction in wave ((5)) before are rising again.

Wave Cancel invalid Level :
Dogecoin(DOGEUSD) Trading Strategy: Wave ((4)) seems to have finished and the price will drop again on wave ((5)), so it's good to look for another opportunity to join the downtrend.

Dogecoin(DOGEUSD) Technical Indicators: RSI returns from Overbought Zone

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 17 August 2022, Dogecoin(DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: wave (C) of Zigzag Details: decrease again in wave ((5)).

Wave Cancel invalid Level :
Dogecoin(DOGEUSD) Trading Strategy: Wave ((4)) seems to have finished and the price wil drop again on wave ((5)), so it's good to look for another opportunity to join the downtrend.

Dogecoin(DOGEUSD) Technical Indicators: RSI Signals Bearish Divergence.

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