MAKE it to 0.47 OR BREAK it to 0.22 - Doge is a Fibonacci runner
Mis à jour
Since its breakout above 0.20 on August 7th doge managed to hit the 168% Fibonacci extension twice. First in an Euler Wave A or 1 at 0.27 on August 8 and as a result of this Fibonacci impulse in an Euler C or 3 0.35 on August 16.
Now it is the moment of truth!
Doge failed to hold the 0.325 support/resistance line, built a XABCD bearish pattern and a second ascending triangle which it brokout from to the downside yesterday and retested it today morning.
So for the moment everything looks very bearish. If we continue this downtrend we have to take the recent run as an ABC correction wave of the big downtrend, which will lead us to 0.22 and 0.09 in a next step.
If we manage to invalidate the XABCD bearish pattern at 0.333, we could see 0.46 next, what will confirm the uptrend and lead us to much much bigger highs.
Now it is the moment of truth!
Doge failed to hold the 0.325 support/resistance line, built a XABCD bearish pattern and a second ascending triangle which it brokout from to the downside yesterday and retested it today morning.
So for the moment everything looks very bearish. If we continue this downtrend we have to take the recent run as an ABC correction wave of the big downtrend, which will lead us to 0.22 and 0.09 in a next step.
If we manage to invalidate the XABCD bearish pattern at 0.333, we could see 0.46 next, what will confirm the uptrend and lead us to much much bigger highs.
Commentaire
Omg, it is Elliot, not Euler :-D
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