DOGEUSD: Bull and Bear scenarios
Doge broke a critical price level for me and now I am on the sidelines and looking for a re-entry. At this point I am considering my primary bull and bear case in the chart. Either way, we should see a directional move shortly. If we see a higher high above $0.144, there is a good change that the diagonal pattern is still active and most likely it is the leading diagonal for wave 1 of 5. Expanding diagonal is supposed to be more evident in wave 1 and contracting ones are wave 5. In this case the green count should bring us back to these current levels again and I will be more inclined to jump onboard at that point.
On the other hand, if the intermediate degree wave 4 is still in play, then we should the last leg down for wave Y which can drag thing down below $0.05 or can get support on the trendline at around $0.06.
At this moment Doge is trading in a no man's land. Decision time might be soon (in the next 30 days).
On the other hand, if the intermediate degree wave 4 is still in play, then we should the last leg down for wave Y which can drag thing down below $0.05 or can get support on the trendline at around $0.06.
At this moment Doge is trading in a no man's land. Decision time might be soon (in the next 30 days).
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