DOGE/USD: making sense of the long corrective price action
I have 2 different counts to make sense of DOGE price action. One assumes the correction is almost over and it is time for the next bull market; another one assumes a bit longer to go.
The Orange WXY count is a zigzag and a flat connected by a flat. Currently the C leg of Y is playing out as an ending diagonal structure. In this count, we should see a break of the triangle structure and couple of more legs down to about .03 to complete the correction within the next six months.
The black is a triangle which should be ending soon. Even if it drags on a while longer, we should not see the June low of $.05 break. In either case, the Primary wave 5 target would be around $5-$6, even it sounds crazy. That's another 100x from the June lows!
The general markets including the crypto market are in a strange place. There is a lot of negative sentiment but we are not seeing a total collapse either. These are very interesting times, indeed!
The Orange WXY count is a zigzag and a flat connected by a flat. Currently the C leg of Y is playing out as an ending diagonal structure. In this count, we should see a break of the triangle structure and couple of more legs down to about .03 to complete the correction within the next six months.
The black is a triangle which should be ending soon. Even if it drags on a while longer, we should not see the June low of $.05 break. In either case, the Primary wave 5 target would be around $5-$6, even it sounds crazy. That's another 100x from the June lows!
The general markets including the crypto market are in a strange place. There is a lot of negative sentiment but we are not seeing a total collapse either. These are very interesting times, indeed!
