DogecoinLong
DOGE needs to BO wedge above the 0.10 to 0.12 zone to be bullish
DOGE seems to be holding a strong support zone (green) with a hammer followed by an engulfing weekly candle. It has since bottomed at 0.0491. This zone is a 0.5 FIB EXT of the ABC correction from ATH.
LOOKING BULLISH: In the next few weeks, it should be able to dash thru my red open space (minimum resistance there) & try to breakout of the black falling wedge & to hold above my 0.10 to 0.12 yellow zone. BO of this wedge/zone may signal a completion of the ABC correction & a new 5-wave EW cycle will start.
VERY BAD SCENARIO: If DOGE fails to hold the current low of 0.0491 (already a 94% crash from ATH), then the measured move from the falling wedge may see DOGE as low as 0.007.
Not trading advice
LOOKING BULLISH: In the next few weeks, it should be able to dash thru my red open space (minimum resistance there) & try to breakout of the black falling wedge & to hold above my 0.10 to 0.12 yellow zone. BO of this wedge/zone may signal a completion of the ABC correction & a new 5-wave EW cycle will start.
VERY BAD SCENARIO: If DOGE fails to hold the current low of 0.0491 (already a 94% crash from ATH), then the measured move from the falling wedge may see DOGE as low as 0.007.
Not trading advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.