Elliott Wave Analysis TradingLounge Daily Chart, Monday, January 8.
FreepikDogecoin / U.S. dollar (DOGE-X)DOGEUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: ZigzagPosition: Wave ((C))Direction Next higher Degrees: wave II of ImpulseWave Cancel invalid Level: 0.057Details: Wave II trend Move to retest 78.6% of Wave I at 0.679Dogecoin / U.S. dollar (DOGEUSD)Trading Strategy: Overall, Dogecoin is still in an uptrend. But it is in a period of correction in Wave 2 to continue rising in Wave 3. We predict that the retracement level is likely to go down to test the 78.6% level of Wave 1.Dogecoin / U.S. dollar (DOGEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillators a bearish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWAElliott Wave Analysis TradingLounge 4H Chart, Monday, January 8.Dogecoin / U.S. dollar (DOGEUSD)DOGEUSD Elliott Wave Technical AnalysisFunction: Counter trendMode: CorrectiveStructure: ZigzagPosition: Wave ((C))Direction Next higher Degrees: wave II of ImpulseWave Cancel invalid Level: 0.057Details: Wave II trend Move to retest 78.6% of Wave I at 0.679Dogecoin / U.S. dollar (DOGEUSD)Trading Strategy: Overall, Dogecoin is still in an uptrend. But it is in a period of correction in Wave 2 to continue rising in Wave 3. We predict that the retracement level is likely to go down to test the 78.6% level of Wave 1.Dogecoin / U.S. dollar (DOGEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillators a bearish Momentum.
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