DOGE SHORT Position
Bitcoin looks like it is setting up for a correction to the downside, so alt coins will follow if Bitcoin does move lower.
This could be a good time to enter a SHORT position on DOGE/USD.
Wave (3) has completed meaning a correction to the downside in wave (4) should occur next.
The stop loss is slightly above the high at 0.14526 and a take profit is set at 0.12925 which is above the support at 0.12696.
The length of wave (3) relative to wave (1) is almost exactly 1.618 (the golden ratio), so it could act as a resistance to price increasing further.
This could be a good time to enter a SHORT position on DOGE/USD.
Wave (3) has completed meaning a correction to the downside in wave (4) should occur next.
The stop loss is slightly above the high at 0.14526 and a take profit is set at 0.12925 which is above the support at 0.12696.
The length of wave (3) relative to wave (1) is almost exactly 1.618 (the golden ratio), so it could act as a resistance to price increasing further.
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