Hello fellow traders,
Today I'm gonna do a short-term analysis on Doge coin. As you may already now, Elon, the foster father of Doge put a tweet out earlier in which he said that: "Tesla will make some merch buyable with Doge & see how it goes". Of course the market reacted in a bullish manner, but will this last? I don't think so. Why would Elon say that and not use Doge by buying it a cheaper price? My guess is that we are making a "nice" bull trap and that the price will fall below the $0.1315 low.
From a technical perspective, based on Wave Analysis, this bullish impulse that occurred today completed a corrective pattern that will increase the bearish momentum in the short-term.
So, "Dogers", keep an eye on the price after we break the previous low, and possibly reach the weekly liquidity pool highlighted on the chart, as we may get a nice investment opportunity and buy at the same time with Elon. 😊🚀
Trade with care.
Best regards,
Alex A.
Disclaimer: Not financial advice & always do your own research.
Today I'm gonna do a short-term analysis on Doge coin. As you may already now, Elon, the foster father of Doge put a tweet out earlier in which he said that: "Tesla will make some merch buyable with Doge & see how it goes". Of course the market reacted in a bullish manner, but will this last? I don't think so. Why would Elon say that and not use Doge by buying it a cheaper price? My guess is that we are making a "nice" bull trap and that the price will fall below the $0.1315 low.
From a technical perspective, based on Wave Analysis, this bullish impulse that occurred today completed a corrective pattern that will increase the bearish momentum in the short-term.
So, "Dogers", keep an eye on the price after we break the previous low, and possibly reach the weekly liquidity pool highlighted on the chart, as we may get a nice investment opportunity and buy at the same time with Elon. 😊🚀
Trade with care.
Best regards,
Alex A.
Disclaimer: Not financial advice & always do your own research.
