EffOfX

3rd Wave Approaching - 1D Chart

Long
BINANCEUS:DOGEUSD   Dogecoin / USD
Current Thoughts
My last idea fell victim to the big dip. It gave a bunch an opportunity to re-grab doge at a great price for a nice little HODL for this next wave.

We're really at the cusp of breaking out of this . 40 resistance. I'd expect a small initial rise with a little pull back before the rocket fires for the 3rd wave.

3rd waves are typically 168.1% GREATER than wave 1. We don't have to see a 3rd wave though, it's not guaranteed. I am suspecting we may only get as high as .80cents.
My 3rd wave (Labeled (C)), is just placed 'randomly'. It's hard to say what day/time and until it goes, I don't think using any fib tools would be worth trying to 'project' the future at this time.


Analysis

Pitchfork with fib retracement
You can see the .618 is right around the .40cent mark. Passing this will most likely signal we're ready to move forward. However it could signal to a lot who bought way high and felt 'stuck' that, it's time to 'break even'. Expect a sell off up high that might prevent forward movement for a day or two.
In the pitchfork , passing that .5 level will be great and we hop to stay above it in the rise.

MaMA
It is still red but in an uptrend. I suspect to see this go green as an indication when the wave is about to start to gain the nessessary momentum to get that 3rd wave gain! We need that momentum ladies and gentlemen, spread the word. Don't let your friends and family fall into FOMO.

MACD-X
Above 0!
MACD Crossed Signal a few days ago. It's opened up as well, the histogram has gone from 0.0044 to 0.0080, nearly doubling it's width. Indicating it's buy time.

RSI/ Volume Indicator
RSI and Volume Strength are showing that people are buying it up and the volume is there to support the continued buy without falling to far down from shorts.

Stoch RSI
Upward slope and crossed. Hope to see the slope here steepen.

Remaining thoughts
I've been HODLing since the last wave. I unfortunately let FOMO get the best of me with a couple of trades, corrected it with the dip. Don't let FOMO get you!!
My plan is to watch around .70cents for the same indicators from last time when the first wave was ending. I'll sell, then buy again on the dip!.
Wave 5 is typically the same percent as wave 1. However, modern analysis has shown that waves typically move in a 3 wave system instead of a 5. Just something to consider!

If we see a large sell off and are unable to break .40cent resistance, never fear, doge will most likely break out.
Lots of online shops who already accepted a number of cryptocurrency also started accepting DOGE. Newegg was one of the big names that stuck with me. This makes DOGE a great investment for us nerds wanting to buy more computer components without spending fiat.

Lastly employ some caution. DOGE isn't your typical utility coin being a MEME as well. DOGE supply is unlimited, so I do not expect this kind of growth to be permanent. I suspect major blockchain changes since the team has gotten back together. Time will tell on all these speculations though!

I'm still new and learning. If I've made any errors or wrong assumptions based on the wrong presumption of an indicator, I'd love to learn. Thank you for reading!

**EDIT UPDATE**
As I was writing this, the 1D candle went from green to red and looked like it reach that point for those who wanted 'out' to sell. :D
Well within the channel though! (LOG view is off for pitchfork , but ON for the screenshot). Spread the word to HODL for now. :D
Comment: Lots of teasing but momentum on the 1D is still looking good! We almost breached the 0.5 pitchfork channel which would indicate we're ready to go higher IMO.
I feel we're just a day or two away from seeing the start of these gains.

Seems to be lots of positive news about DOGE for the beginning of the week too. This might give people a courage boost to buy(MOAR)? Mark Cuban invested 1M into doge, so he's HODLing for a big gain. Probably that $1 moment! :D But it's all speculation on my part.
Comment:
Comment: DOGE has broken out of the desc/sym triangle. HOWEVER, it looks like we're consolidating still and might see some sideways movement for the next day or so.

One thing to take into consideration with this meme coin is how the popularity boosts help the meme. Elon Musk is hosting SNL this Saturday and there is a probability that he will get to mention DOGE or at very least, Crypto skits that talk about a few of the options, again, probably mentioning DOGE.
I totally expect this to boost confidence, following with people buying it.

Have a great weekend! HODL and watch the daily. Patience and avoiding FOMO will be helpful in having the best success you can get. :D