Doge Short or Long

First of All I want to say that you have to keep critical. Don’t take my analysis too serious. Be critical and make your own decision.

Dogecoin is a popular Meme coin that has backers like Elon Musk and other famous people. Recently, it got added to Coinbase. Coinbase added it to its Pro function. This has caused a significantly increase and with Elon’s tweet finishing it.

Now for this chart I have used the Elliot Wave technique. Wave 3 has extended to 1.618 of Wave 1 which it had 45%. I don’t see any reverse yet on a 4 hour chart. On a one hour chart there is, but only in values of 3 USDT.

If Wave 3 gets longer than 1.618 and reach 2.618 (which it has a chance of 8%), Wave four will consolidate to 0,38 cent which it has a chance of 60%.

If Wave 3 does not get higher than 1.618, Wave 4 has a 60% chance of consolidating to 36 cent.

But once again, just like we have seen in the past. This cryptocurrency is very independent of Elon Musk . If he times his tweets right, he can cause another increase and this chart can go into the trash can. Also, Coinbase will be adding Doge to it’s mobile’s app. So keep an eye on that