Foreign Welcome to another update video about Dogecoin so for Dogecoin I remain of the View that we are not in a breakout Pattern it is of course possible the Breakout pattern would be the Blue Wave Count I do not trust it the Blue Wave Count would mean we've moved up in a Wave 1 back in June came down at a long Wave two we moved up in a way three we Came down in a way for a super sharp Pullback it would have to be a diagonal Pattern not reliable at all and until I See this fifth wave which of course is Possible as long as we are in the Channel but as long as I don't see the Fifth wave I cannot confirm that the Bottom has been made here five waves up And then I want to see ABC down until I See this I can't confirm that a bottom Has been made when we came down here to The support area I made you aware of Course you know from these support areas Long trays are possible but it's just Not a super reliable chart yeah with Those you need to know As soon as Elon makes a tweet this thing Can go crazy okay Um so it always is a bit Taking with take it with a pinch of Sword to a degree but um the movement That is coming off the low is doesn't Convince me that this is an impulsive Move to the upside so I'm really really
Conscious of the fact that It could be an ABC in wave 5 yet looking At all of this as a diagonal pattern as I said but it's not reliable pattern Nothing I would necessarily trade Because there are better charts that Give us more reliable patterns that are Better to trade Um but yeah surely it could go up from Here it it can um it's now in a Resistance area which we take a look at As well but it can move up higher as Long as it is in this broader Channel we Lost a trend line recently here now That's not a big thing Um it hasn't really fully broken down so I'm going to take that out So the blue count could work out not High confidence actually the the last One of the you know it's sort of the Least likely ones of the ones that I Have actually Um the next count is the red one I don't Fully trust it either anymore I think We've moved up a bit too strong that Would imply that we've put a high wave 4 In place here and we are now moving down In wave five and the next low could put The bear Market low in place it would Imply here the red count would be a wave One down a wave two up a wave three down We're now in a wave four and Um we could push a last low in place in A wave five maybe into the region around
Five cents or so that's a count where I Don't yet see a high in place Um sorry where I don't see a low in Place yet and this is One of the preferred counts for me in This count We have reached however a level that Um basically we're pushing here into the Region around the 61.8 percent retrace That is a actually a little bit too high For wave four So this is not my preferred not the Absolute preferred car not the primary Count it is one that I think is quite Likely Because the move to the upside looks Very corrective But it's not my primary account because We've pushed a little bit too high the Primary count is actually the yellow one That I made you wear in the last video Already that Yes fair enough we put away four high in Place here that's still the view and we Are moving down in wave five but not in A small five wave structure but rather In a larger one so the view is that all Of them move down on the 9th of November Was a wave three uh sorry a wave one a Wave one we're now putting in place a Wave two that could still stretch higher Then away three down a wave four and Away five that could take us down quite A bit
Um in this Wave 2 now yeah my view would Be that Um No one second the wave one would Actually need to sit here yeah Because then I can see this As a one two three Four as a triangle and a five down It would work out very nice in terms of Proportions And then my view would be that we're Actually moving up in this yellow count Now in a wave a we moved down in the B Wave and we're now pushing higher in a c Wave And that allows me to calculate a target For the Wave 2 because I can take the Length of the a wave go down to the low Of the B wave and the one to one ratio Would take me to 12 and a half cents So that would be ideally the target for This wave tool if we push above that we Can look at the 1.618 extension that Would be quite a bit of a stretch Because we would then move up quite a Lot for a wave tool that would be 14.8 Cents so this is the primary car that's The one that I think is most likely Um pushing a little bit higher now in a C wave to either 12 and a half or 14.8 Cents that's my update about Dogecoin Not bullish at the moment here until I Really see the five waves in blue I Don't trust the bullish count I am still
Here looking for one more low but yeah Short term upside in a wave 2 likely Okay and that's my update about Dogecoin Hope you like the update if you did Please hit the like button leave a Comment and subscribe and if you really Like the content then please check out The channel membership thanks a lot for Watching bye Thank you