Dogecoin

Besides Elon musk's games and ploys on Dogecoin, this coin has some room for growth; at least based on technical analysis. If we look at the chart there is a big and wide upward channel, and price is approaching the bottom of the channel. Also, Fibonacci time analysis shows the end of the current downtrend wave is almost near. Let's see what happens.

코멘트:

So, once again DOGE reached the upper line of the triangle pattern. Let's see if DOGE can break this triangle or not.

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Ready or not, here come the Doge.

코멘트:

So, Doge is going up; little by little it goes up.

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Doge correction wave toke a complex form, and it seems like a descending channel. Let's see when Doge breaks this channel upward.

코멘트:

So, it seems Doge's correction is finished when doge broke the minor downtrend line. Let's see what happens.

코멘트:

So, Doge is going up according to the analysis and now Doge have reached a major horizontal resistance area. To continue going up, Doge needs to break this area. Let's see what happens.

코멘트:

So, Doge went up but couldn't pass the major horizontal resistance area, then made a pullback on the uptrend line. It seems a minor wedge/triangle pattern is forming; Doge have to break this pattern if wants to continue the upward movement. Let's see what happens.

코멘트:

Doge is really trying to break this line, but so far couldn't. If Doge fails to break, correction will happen to gather momentum, and then attacking this line again. Let's see what happens.

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Doge is making a pullback on the broken resistance. Let's see where the correction ends.

코멘트:

Nicely done; the pullback unfolded in a descending channel.

코멘트:

So, it's correction time; Bitcoin is in correction, and the altcoins too. It seems Doge's current correction might follow its previous one: coming down near level 0.618 Fib level, and then the next upward wave breaks the minor downtrend line. Also, for Doge, the horizontal area is the important one to look for. That is, how does Doge break it or make a pullback on it? I will update here as soon as any major changes occur. Let's see what happens.