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Dogecoin(DOGEUSD) Elliott Wave Technical Analysis 16 August 2022

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Elliott Wave Analysis TradingLounge Daily Chart, 16 August 2022, Dogecoin(DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave (C)
Direction Next higher Degrees: Wave ((4)) of Impulse Details: Impulse price structure in the fourth wave, upon completion the price will fall again in the fifth wave.
Wave Cancel invalid Level: 0.0492
Dogecoin(DOGEUSD) Trading Strategy: Fourth wave short-term rise in downward direction, upon completion, price reverses again in fifth wave, with a target price of
0.9000 that equals Port-triangle thrust.
Dogecoin(DOGEUSD) Technical Indicators: Be careful, but resistance is important at the 200 MA line.
TradingLounge Analyst: Kittiampon Somboonsod



Elliott Wave Analysis TradingLounge 4H Chart, 16 August 2022, Dogecoin(DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis
Function: Fol ow trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next higher Degrees: wave (C) of Zigzag Details: An increase in Zizag's wave (C) when completed, the price will fall again.
Wave Cancel invalid Level:
Dogecoin(DOGEUSD) Trading Strategy: The subwave of the third wave may have moved sideways before rising again, with the key resistance being the same level of the
previous fourth wave.
Dogecoin(DOGEUSD) Technical Indicators: The MA50 is above the MA200 showing an uptrend.

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