Hey friends, hope you are well, and welcome to the new update on Dogecoin.
Small Gartley move:
Previously we have seen that the Dogecoin formed a Gartley pattern on a 4-hour chart. There was a complete opened alligator’s mouth below the buying zone like we had the smallest time period simple moving average 25 above all and the biggest time period SMA 200 below all and the priceline surged more than 102%.
After more than 102% rally:
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New Gartley moves.
Now the priceline of Doge has formed another bullish reversal Gartley move. This time this pattern is bigger than the previous one because it has been formed on the daily time period chart. This time again there is a complete opened alligator’s mouth below the potential reversal zone because again we have the smallest time period simple moving average 25 above all and the biggest time period simple moving average 200 below all.
The priceline of Dogecoin has also formed another Gartley on the same daily chart with Bitcoin pair as below:
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Conclusion:
As the priceline of Doge produced more than 102% when it formed a small Gartley pattern then it can be possible that Dogecoin will rally more than the previous rally because this time the harmonic move has been formed on the daily time period chart. However, the potential reversal zone should be used as stop loss.
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