Sidebar – Sick of checking your phone every 30 seconds? Try the CryptoHopper SaaS bot to automate trading, and never lose out on an overnight swing again.
Elliott Wave Analysis
In my last post I mentioned we would probably see a floor of .22-.25 – but I hadn’t factored in Biden’s tax plan announcement, or the huge theft of Bitcoin in Turkey. I believe we saw a “U” where DOGE hit around .15 – WOW!
However, that recovered quickly, and DOGE began trading sideways in an upward trend, indicating we may have reached the bottom. Also, when charting, I found what look like successive flat and triple three corrective wave patterns (I’m still working on my Elliott Wave corrective identifications).
This discovery, combined with the somewhat surprisingly sharp upward floor as we consolidate, lead me to believe that we could see that .40 number I mentioned on the 21st earlier rather than later. In either case, we are definitely coming to a pivot point, and looking at the larger curve, I think it will pivot upward. Just thinking out loud here, if I were in the position of looking to time an uptrend, volume would be my primary focus point.
– I think if we see volume increase substantially, coupled with a sustained two-hour period over .31, that would be my signal that the market is saying: “DOGE is back!”
Hope this was enlightening! As always, I” report back in a day or two to round up with where we are sitting, and how my predictions fared.
DISCLAIMER: This is not investment advice. However, if you liked the content, and found it helpful, you can tip me at my DOGE address here:
DTYBz3Hyo5yw1MTyoNYRh8HjJebQF1P3s9
