Dogecoin going on an A-B-C ZIG-ZAG correction which is a (5-3-5 wave) very common after a good 5 wave impulse
Blue 5 wave Elliot wave in 2021 Jan TO May
ABC corrective wave in RED
We are now in Wave C in the ZIG-ZAG correction (PURPLE)
Wave C is going through sub wave (4) and sub wave (5), we are already going below 78.6% FIB retracement, so the next best points are 88.6% and 94.1% and they are derived by the following formulae:
88.6% price level is derived by squaring (or multiplying by itself) from the Golden Ratio, 0.618:
0.618 x 0.618 = 0.786 (78.6%)
0.786 x 0.786 = 0.886 (88.6%)
0.886 x 0.886 = 0.941 (94.1%)
88.6% retracement price is $0.08
94.1% retracement price is $0.04
I believe DOGE will still be shorted and may find the reversal at that zone
Please like and comment for feedback
Blue 5 wave Elliot wave in 2021 Jan TO May
ABC corrective wave in RED
We are now in Wave C in the ZIG-ZAG correction (PURPLE)
Wave C is going through sub wave (4) and sub wave (5), we are already going below 78.6% FIB retracement, so the next best points are 88.6% and 94.1% and they are derived by the following formulae:
88.6% price level is derived by squaring (or multiplying by itself) from the Golden Ratio, 0.618:
0.618 x 0.618 = 0.786 (78.6%)
0.786 x 0.786 = 0.886 (88.6%)
0.886 x 0.886 = 0.941 (94.1%)
88.6% retracement price is $0.08
94.1% retracement price is $0.04
I believe DOGE will still be shorted and may find the reversal at that zone
Please like and comment for feedback