Foreign Welcome to another update video about Dogecoin it's also moving sideways here Like many other coins as well it really Is a difficult and boring time in the Market Um with Dogecoin we continue to have two Scenarios I'm gonna tell you which one Is my primary scenario and which one I Focus on a little bit more Um So let's first focus on the yellow count Because the yellow count is my main Count that's the primary count Um to be honest I would need to make This one here yellow as well because It's part of that and then the way three Down here as well so the idea is Actually that we bottomed here in well Local bottom local low here on the 17th Of June basically or in the middle of June in this way three we moved up in a Way for in an ABC pattern ABC yeah And disregard the blue count for a Moment that is the bullish count which I Don't put too much emphasis on it could Of course work out and we talk about What it means but Um the idea is that we moved up here in This sort of um yeah a b c pattern Because we only got three waves to the Upside yeah we only got three ways we Didn't get Um five so with five ways to the upside
We could have been a bit more bullish But no there were no five waves Um Deutsche failed to hold Wave 4 Support So it moved up in three yeah one two Three four five but the fourth wave was Missing so it was not it cannot be an Impulse anymore Um but therefore I focus more on the Yellow count because it means that we Moved up in ABC ABC of a fourth wave And that we are now moving down in this Fifth wave so I actually have to move That yellow wave five down there uh to Highlight there will be a new low coming At least with a high likelihood in my Opinion So and then that this way 5 is currently Unfolding Um yeah basically in in five waves um And that we've already done here a wave One did work only in the wave two there Will be a three a four and a five two Lower levels Target Yeah I would say sort of the four to Five cent region we talked about that Could be lower but I don't necessarily See that at the moment it's important That we drop below that well basically Drop below the five cent level then the Minimum expectations of this wave 5 Would be fulfilled Um if we then talk about sort of sub
Waves I mean we came down here in my Opinion in five ways that's at least the Main interpretation here that we move Down in wave one two three four five Also do that in yellow you have five Waves down in the yellow wave one we're Now moving up in a wave two my Interpretation is that we could go a bit Higher yeah certainly talked about that In the last video because if this really Is a wave tool We've really only reached the 38.2 Percent flip level an ideal Target would Be the 50 retracement or the 61.8 Retracement and if I look at Subways for This Wave 2 Then We can see that this can be counted Actually as an A B C pattern and that Would suggest that the C wave is still Missing you know and if I look at the C Wave length Then it would actually take me roughly If I say okay waves waves um A and C Often have the same length then the Ideal Target would be sort of in the 12.8 Cent region okay so keep an eye on That level the B wave of this wave tool Could actually be unfolding as a Triangle as well so it depends on how Much more sideways Movement we get But what we do get here is at the moment A situation where the actual Lower here is a bit higher than this low
So I would not be surprised if we see The actual B wave unfolded as a So-called Elliott wave triangle in an A B C D E pattern which could then break To the upside important for this Scenario is that the next wave down does Not break below the a wave so we need to Hold the 9 Cent level and the D to the Upside needs to be below 11.2 cents if We break lower than the a wave is Probably just a normal ABC pattern and Not a triangle Um The only reason why I'm considering here Triangle scenario is because the move Down doesn't really look impulsive so in A triangle all of these sub waves are Corrective waves that's why I'm Considering it Um and then yeah that would give us Another D up an e down and then finish Off the B wave with the wave e low of The triangle and we would move up in an E wave Sorry in a c wave of two We can calculate a target for this D Wave and that sort of just roughly Um they don't have to always be very Accurate they don't they're not always Very accurate but they give us a good Guideline right and the target would be The 61.8 percent extension of the B wave That would take us to 10.6 cents So
That could be an idea if we really are In a triangle the D wave should ideally Reach that price region around 10.6 Cents then there should be a e wave down And then ideally we move higher in a Wave 2 before we eventually come down in Another low So that's my primary expectation at the Moment that is based on how the chart Currently is structured how it develops Is a more bullish interpretation Possible yes But I would really only consider it If we break Above the 14 Cent level that is the 78.6 Retracement theoretically this Wave 2 Can without a problem go a bit higher But if it goes above the 78.6 Retracement it is most likely not Um It is most likely not a wave 2 anymore And we then look at something more Bullish and that's where the Blue Wave Count comes into play So let me just Actually the triangle waves I'm going to Make yellow as well Because they're part of the yellow count Um but the blue count is the one where From here we could see Rising prices in The fifth wave so that is actually the Bullish interpretation is not very Likely but we have here wave one a wave Two a wave three away four and another
Way five to the upside could push higher It doesn't really look like it at the Moment but you can see we are in this Broader Channel And it's a it's a channel that you could Argue is part of a diagonal structure so The wave four no problem that it Retraces a lot it is possible as a Diagonal that we get another rally in a Wave five above the 14 Cent level But this is a scenario where I would not I wouldn't bet on this I would I would Certainly bet on short term upside here As indicated and of course you know such A rally can go a bit higher it can Extend higher and if it extends very High then we are probably in the blue Count but then Um But then you know we are now getting Close to support again which is always An interesting entry point for anybody Who wants to do it no Financial advice Bear in mind of um that um if we break Below seven cents it will probably take Us down straight away that's important And if we break to the downside of the Channel that will probably take us down Straight away as well so yeah a move up Is certainly possible but then my Personal strategy would be to I would Not really expect this Blue Wave count I Would yeah possibly expect here the The Wave 2 retracement
Um higher yeah to maybe 14 cents or 12.8 Was the ideal level if it goes higher Then it gives us five waves yeah and Then another entry point would be the Next retracement because five waves up Yeah if we get really those five waves In a diagonal one two three four five Then that would give us a good Indication That we're actually in a bullish count Even if it's only a diagonal pattern Which are less reliable but it gives us Five waves and then this would count as A larger wave one and then the low of The wave two in an ABC correction could Be entered as a long trade to trade wave Three which is normally the most bullish Wave so this is the strategy I'd be Looking at Um Difficult Market at the moment Short-term upside preferred especially As long as we are in the channel still And that would be primarily a short-term Upside in a wave 2 into the region of Around 12.8 cents if it pushes much Higher it could be the blue count the Bullish count and then I would wait for The retracement to enter in a wave two But yeah primarily short-term upside and Then a move down in the Wave 3 expected In the yellow count Okay and that's my update about Dogecoin I hope you liked the update if you did
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