🚀Short-Medium Term $DOGE #Long Setup🚀
#dogecoin #doge $doge #dogetothemoon
A short term descending wedge has formed, with the lower timeframe RSI's reset, down and away from the local POC. The bottom of this wedge has hit the immediate 0.618 fib level, however that more "macro" 0.618 level has yet to be reached. Coincidentally, the measured move of an invalidation would, in fact, take price down to this "Golden Zone". Here, I've laid out 3 different possible outcomes.
1) Wedge plays out and a new high is made around $0.083
2) Wedge invalidates and upwards short-term trend is lost and price bounces at the "Golden Zone"
3) "Golden Zone" is surpassed and the high-volume node below it catches the knife and price bounces even further.
#NFA #DYOR
A short term descending wedge has formed, with the lower timeframe RSI's reset, down and away from the local POC. The bottom of this wedge has hit the immediate 0.618 fib level, however that more "macro" 0.618 level has yet to be reached. Coincidentally, the measured move of an invalidation would, in fact, take price down to this "Golden Zone". Here, I've laid out 3 different possible outcomes.
1) Wedge plays out and a new high is made around $0.083
2) Wedge invalidates and upwards short-term trend is lost and price bounces at the "Golden Zone"
3) "Golden Zone" is surpassed and the high-volume node below it catches the knife and price bounces even further.
#NFA #DYOR