DogecoinShort
(Elliott Wave) Double zigzag correction is just half way in
Global inspection suggests that correction (monthly timeframe) has not yet reached even the minimum targets (marked with red lines on a logarithmic scale).
Local inspection suggests that correction is emerging in a double zigzag formation:
- First zigzag (W) reached the lowest point of $0.262
- Right now ugly wave (X) is forming (retraced 0.618 of wave (W))
- Expecting one more zigzag (Y) with least the same length of wave (W) potentially reaching $0.18 (aligns with weekly 50 EMA) with an on the way pullback near $0.28 (aligns with daily 200 EMA).
Local inspection suggests that correction is emerging in a double zigzag formation:
- First zigzag (W) reached the lowest point of $0.262
- Right now ugly wave (X) is forming (retraced 0.618 of wave (W))
- Expecting one more zigzag (Y) with least the same length of wave (W) potentially reaching $0.18 (aligns with weekly 50 EMA) with an on the way pullback near $0.28 (aligns with daily 200 EMA).
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