DOGEUSD Potential for $3.50 - 5.50 on the next Fibonacci peak.

29 Nis 2021

The pattern on DOGE is a Channel on the Fibonacci scale since last November/ December when the 0.005 High broke.

Since then, every High crossing has resulted into a break-out towards the 3.0 Fibonacci extension.

Every consolidation phase traded within a maximum of 2.00 Fib interval.

The current is within the 3.50 - 1.50 Fib levels of the Channel. Assuming that the April 23 ~0.1400 low holds, then the 3.0 Fib extension, when the April 16 ~0.4800 High breaks, will be around 5.60. Assuming a scenario where the current consolidation is longer than the previous, then it is possible that the 4.00 Channel Fib ext won't be crossed on this phase. That puts the Target Zone of the next peak within roughly $3.50 - 5.50.

How realistic is this for you?


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