DOGECOIN is very close to complete a boring correction pattern and start a new up going rally !
The mentioned rally is going to bring us more than 200 % profit in the case of being patient of course !
DOGE started a correction from ATH and sharply reached to an acceptable retracement level ( wave a shown on the chart) . Although retracement was enough to start a new motive wave, more time was needed to re-gain enough power to pump again. That is exactly how triangles form.
So far, DOGE has completed 4 of 5 waves (a,b,c,d) of a triangle which lasted for 26 weeks and is currently completing its final wave e. As suggested on the chart 0.786 retracement of wave d may be the end of correction which corresponds to about 0.22 USD however, we have to keep it in mind that sometimes wave e does not reach to support line and new up going wave starts sooner.
With above explanations , A triangle break out which is break out of the line connecting top of wave b and d can be a good entry point. Of course we can bear more risk and open a long position at green support line and 0.786 retracement as shown on the chart.
First important resistance is about 0.87 !... What a huge profit is waiting for us my friends !
Good luck every one and wish you all the best
The mentioned rally is going to bring us more than 200 % profit in the case of being patient of course !
DOGE started a correction from ATH and sharply reached to an acceptable retracement level ( wave a shown on the chart) . Although retracement was enough to start a new motive wave, more time was needed to re-gain enough power to pump again. That is exactly how triangles form.
So far, DOGE has completed 4 of 5 waves (a,b,c,d) of a triangle which lasted for 26 weeks and is currently completing its final wave e. As suggested on the chart 0.786 retracement of wave d may be the end of correction which corresponds to about 0.22 USD however, we have to keep it in mind that sometimes wave e does not reach to support line and new up going wave starts sooner.
With above explanations , A triangle break out which is break out of the line connecting top of wave b and d can be a good entry point. Of course we can bear more risk and open a long position at green support line and 0.786 retracement as shown on the chart.
First important resistance is about 0.87 !... What a huge profit is waiting for us my friends !
Good luck every one and wish you all the best
Bình luận:
We never had triangle break out and now we see trades below labeled wave C which makes this analysis invalid . We need a major update when wave patterns unfold.
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