Dogecoin (DOGE): Zoom Out and hop on the next Big Move!

17 Nis

Starting with Dogecoin on the Monthly Chart, we're observing a potentially lucrative opportunity. The subordinate Wave ((iii)) has completed at the precise 161.8% extension level, and it appears that Wave ((iv)) has concluded within the 38.52% retracement range. A notable detail is the wick of the current monthly candlestick reaching down to close the Fair-Value-Gap on the Monthly Chart, suggesting a robust and effective market response. Given these developments, our expectation is that there won't be further significant dips below this level.



Looking at Dogecoin on the Daily chart, we observe a significant Demand Zone which we believe should be respected if tested another time. We choose not to zoom in further as the range appears quite defined to us.

We are placing our stop-loss just below this touched and thoroughly respected Demand Zone. If we repeatedly enter and "cut" through this zone, we might consider exiting the position prematurely. However, unless that happens, we plan to maintain our position.

Our minimum target is the level of the previous All-Time-High. We anticipate breaking the local daily chart high of $0.23, aiming for higher levels as part of our ongoing trading strategy.