Doge: primed for 5th wave up?
Doge on the weekly has been following a beautiful parabola. Now on the way back up, 4 waves can be counted from an impulse starting in mid October 23 and the 5th appears to be locked and loaded. Should this prove to be the case, the next obvious stop is the 1.618 Fib at around 35 cents. Once there, an ABC correction and possibly further consolidation would make sense.
As always, it's important to remember that BTC determines the alts and BTC is still a risk on trade. Eventually it may become a go to risk off haven like gold, but until that's the case, crypto should be traded with a close eye on Wall St. and BTC. BTC at elevated prices once again also calls for extra caution entering new positions, so stop losses become important.
Not financial advice; trade at your own risk.
As always, it's important to remember that BTC determines the alts and BTC is still a risk on trade. Eventually it may become a go to risk off haven like gold, but until that's the case, crypto should be traded with a close eye on Wall St. and BTC. BTC at elevated prices once again also calls for extra caution entering new positions, so stop losses become important.
Not financial advice; trade at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.