Dogecoin ABC correction entering final phase

26 Jan

I made a fresh clean chart for you to see the obvious.

1 Fibonacci Retracement of the 5th wave from 8 cent to 48.5 cent
2 Fibonacci Retracement from the bottom wick of the A wave to the top wick of the B wave
3 Date & Price Range measuring the A wave and one for the expected C wave both showing us -46% & 12 days
4 Orange Trendline you have seen also in the previous which sits on the top of the 3rd wave.
5 Green Trendlines x4
6 Notice the volume to the left we have a nice green volume when we pumped the 5th wave and to the right we have a nice red volume increasing
7 VWAP indicator also confirming our targets are legit!

Conclusion:

If we drop from here exactly the 46% like we did on the A wave we will perfectly hit our targets between the 0.618 of wave 5 and the 1.272 of the B wave plus support from the Orange Trendline

The last drop lasted 12 days and if the next one should also last around 12 days then time is running out and it might drop in the next 5 days before the upcoming monthly close and might be already finding bottom by then.

We most likely have some reactions on the way down when we reach the 0.786 also green line and the 1 Fib.

If you have not see the previous Idea (Editor Pick) please have a look at it here:

7 hari yang lalu

Trade aktif

Short Update with Further Confirmation That the Idea Is Playing Out as Predicted!

The resemblance is too obvious:

1. Percentage Drop of the A Wave: The first two daily red candles resulted in a drop of 14.5%.

2. Percentage Drop of the C Wave: We are currently experiencing a similar scenario where the first two daily candles also resulted in a drop of 14.5%.

3. Subsequent Days in the A Wave: Over the following two days in the A wave, there was a total drop of 28.5%, with one of those days seeing a 12% decline.

If this pattern repeats, we might see another 12% drop later today after the next daily close, followed by a small relief bounce. This bounce would likely continue until the next candle close tomorrow, completing the remainder of the drop to total again at 28.5%. This would align our trajectory directly towards the target zone, positioned between the 0.618 (5th wave) and the 1.272 (B wave) retest levels.

1 day chart:



5 day chart:

Also, Notice the Paralel Channel:

I've added it to show you how it perfectly aligns with the existing structure so far, and the bottom of the channel reaches down to 21.5 cents. This confirms that there's a possibility it might wick down to that level as well.

14 jam yang lalu

Trading ditutup: target tercapai

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