dogecoin
Hello,
Welcome to this analysis about Dogecoin , we are looking at the 4-hour timeframe perspectives. Doge in recent times is one of the cryptocurrencies within the market showing rather a weak bullish structure with not that much upside potential as it is the case with other cryptocurrencies which are making constant higher highs. These differences are important here and as I discovered in my analysis Doge is building an important formational structure that is building the source for upcoming volatilities that should not be underestimated. Therefore, as when looking at my chart we can watch there how Doge has formed this main descending-channel-formation marked with the boundaries in blue and within this formation Doge has the coherent wave-count with the waves A to C almost already completed. The wave D within the wave-count is crucial now as it consists of a bear-flag-formation with the local wave-count reaching from A to C within the formation. As Doge now approaches the upper resistance-cluster marked in red in my chart this is a highly likely origin for bearish pressure to the downside which should be expected here and when Doge continues with it this will lead to the finalization of the bear-flag-formation and will provide the setup for further bearish pressure to the downside especially with the wave-E to emerge. Once this is done Doge will look for the lower dynamic target-zone marked in blue from where the situation needs to be elevated anew, it will be an important development ahead.
In this manner, thank you for watching my analysis about DOGE and its main bear-flag-formation, support the analysis with a like and follow or comment for more market insight!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about Dogecoin , we are looking at the 4-hour timeframe perspectives. Doge in recent times is one of the cryptocurrencies within the market showing rather a weak bullish structure with not that much upside potential as it is the case with other cryptocurrencies which are making constant higher highs. These differences are important here and as I discovered in my analysis Doge is building an important formational structure that is building the source for upcoming volatilities that should not be underestimated. Therefore, as when looking at my chart we can watch there how Doge has formed this main descending-channel-formation marked with the boundaries in blue and within this formation Doge has the coherent wave-count with the waves A to C almost already completed. The wave D within the wave-count is crucial now as it consists of a bear-flag-formation with the local wave-count reaching from A to C within the formation. As Doge now approaches the upper resistance-cluster marked in red in my chart this is a highly likely origin for bearish pressure to the downside which should be expected here and when Doge continues with it this will lead to the finalization of the bear-flag-formation and will provide the setup for further bearish pressure to the downside especially with the wave-E to emerge. Once this is done Doge will look for the lower dynamic target-zone marked in blue from where the situation needs to be elevated anew, it will be an important development ahead.
In this manner, thank you for watching my analysis about DOGE and its main bear-flag-formation, support the analysis with a like and follow or comment for more market insight!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.