Well, this is what happens when Bitcoin decides to fall down a mountain a few times over. This was definitely the worst case scenario; I was expecting Bitcoin to drop... I knew how bloody it could have been, and man didn't it follow through. On the bright side, given the context of this drop, it isn't inherently an issue with Doge... Bitcoin just decided to shake things up a bit. Doge wicked right down to the 1.618, 0.618, and 0.382 fibs; the circled fib lines. I expect Doge to trade within the ranges of the 0.618 and 0.382, before revealing its next play. I believe once Doge shows volume confirmed support around and above the ~$0.27 range, and Bitcoin is showing a nice reversal, then things will be looking better. If Doge decides to start breaking lower than $0.12, or Bitcoin continues to topple gravely, then things could be over, but, when and if that comes, we shall see. I believe Doge is going to ultimately end up laying out an impulse wave where wave five will be extended. I still heavily believe in the $28 mark, or maybe even higher... who knows; this is denoted by the upper white fractal. The lower white fractal denotes the other likely outcome of highs being set anywhere from $1 to $7. The sin waves, time cycles, and vertical line pairs are just there to portray Doge's pattern. While analyzing Doge, I've really just come to see what it has done in the last year or so as a spring being incrementally loaded up on each rise and fall to finally show off on its last explosive run, which so nicely lines up with an extended fifth wave. A slow, methodical, and beautiful building of momentum.
Here is a more clear image of the impulse move I see:
Here is a link to a good image detailing the extended fifth wave: pin.it/7gqHbao
The article the Pinterest link takes you to also has plenty of other good information.
One thing I do want to note is that within the image detailing an extended fifth wave: during the fifth wave up there are a series of alternations up to the high, I think that given the way Doge performs, and also how it has consolidated recently, will lead to price pressure being released rapidly like in the past; ultimately only really making an alternation when it reaches the highs to likely form a double top. Finally, looks like Bitcoin is confirming the next cycle top to push into 2022, unless we get an end of December surprise. Now we wait and see how early or late the market wants to top out.
Posted chart:
Here is a more clear image of the impulse move I see:
Here is a link to a good image detailing the extended fifth wave: pin.it/7gqHbao
The article the Pinterest link takes you to also has plenty of other good information.
One thing I do want to note is that within the image detailing an extended fifth wave: during the fifth wave up there are a series of alternations up to the high, I think that given the way Doge performs, and also how it has consolidated recently, will lead to price pressure being released rapidly like in the past; ultimately only really making an alternation when it reaches the highs to likely form a double top. Finally, looks like Bitcoin is confirming the next cycle top to push into 2022, unless we get an end of December surprise. Now we wait and see how early or late the market wants to top out.
Posted chart:
