Following cryptocurrency analysts are predicting the future potential of Bitcoin (BTC) and expressing bullish sentiment towards Dogecoin (DOGE).
Starting with Dogecoin, the analyst known by the pseudonym DonAlt told the 58,200 subscribers of his TechnicalRoundup YouTube channel that it's “not all that unlikely” that the top meme coin by market cap will reach $1. says. current level.
At the time of writing, Dogecoin is trading at $0.153.
The pseudonymous analyst says he is bullish on Dogecoin due to the memecoin's recent price action against Bitcoin, which suggests strong support.
“The reason I thought DOGE was interesting was because it came back to support on the BTC chart.”
On what invalidates his bullish theory on Dogecoin, Don Alt says:
“It's disabled somewhere here [above $0.05]target that [$1]…I don’t think that’s the worst…especially when it was trading at $0.12 or $0.13, because it’s literally only 20% off the optimal entry of $0.10. ”
For Bitcoin, Don Alto said trends appear to be bullish despite a double-digit correction from the all-time high of over $73,000 hit earlier this month.
“Generally speaking, we're still in a big uptrend. This is a massive uptrend. That means the push is for buying, and whether it's going to go down or not, and if it's monthly.” I think. [chart] While this is fundamentally a bearish development, the best we can hope for with a bearish view is a large retrace. [February monthly] candle [that runs from $41,800 to $64,000]”
According to the pseudonymous analyst, if Bitcoin breaks below the $60,000 support level, the next support level will be around 22% below the current price.
“That’s my bearish view…if we close the deal; [March] monthly [candle] Red, and in the weekly period, this is basically the support that everyone keeps talking about, this $52,000 support. ”
At the time of writing, Bitcoin is trading at $66,964.
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