Elliott Wave Technical Analysis: Dogecoin Crypto Price News For Thursday, Oct 10
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Elliott Wave Analysis TradingLounge Daily Chart
Dogecoin/ U.S. dollar(DOGEUSD)
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction Next higher Degrees: wave (II) of Impulse
Wave Cancel invalid Level:
Details: Wave (II) may not be complete, price is likely to be below 0.076
Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy:
This is a 5-wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level. So the overall picture is a short-term retracement before another rally.
Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge 4hr Chart
Dogecoin/ U.S. dollar(DOGEUSD)
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction Next higher Degrees: wave (II) of Impulse
Wave Cancel invalid Level:
Details: Wave (II) may not be complete, price is likely to be below 0.076
Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy:
This is a 5-wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level. So the overall picture is a short-term retracement before another rally.
Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators:
The price is below the MA200 indicating Downtrend. The Wave Oscillator is a Bearish Momentum.
Technical Analyst: Kittiampon Somboonsod
Source: Tradinglounge.com
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