A carefully adopted analyst predicts a powerful Dogecoin (DOGE) surge amid the prevailing bearish sentiment within the crypto markets.
The pseudonymous analyst, referred to as Kaleo, says that he sees the meme cryptocurrency skyrocketing 200% from its present worth of $0.17 to $0.51.
“Seems to be like a stable spot to punt a DOGE lengthy.
Bouncing off [high timeframe] assist, tons of upside… tight/simple stops on the draw back.”
As for Bitcoin, the favored crypto strategist maps out short-term bullish and bearish eventualities for the biggest cryptocurrency. In keeping with Kaleo, Bitcoin may bounce as soon as it hits assist at $30,000. In a bearish situation, nonetheless, Kaleo sees BTC failing to carry assist at $30,000 and plunging to a brand new 2021 low at $24,000.
“As HTF (excessive timeframe) bullish as I nonetheless am, I’ll activate the Kaleo dealer hat. Individuals continually ask me what it will take to vary my bias… Principally, one of many eventualities is possibility #2 – worth retests diagonal, weak bounce, fail 2nd contact.”
Though Kaleo is contemplating the opportunity of a failed Bitcoin bounce, he says that Bitcoin’s present market construction resembles the value motion of Apple (AAPL) in March 2020, when the tech large recovered from the panic set off by the COVID-19 pandemic.
I nonetheless consider we bounce right here. The chart is is extraordinarily just like what AAPL regarded like on the finish of March.
Finding out market cycles (every thing I’ve shared) it is troublesome to consider the bull market is over, however needed to provide a breakdown of how I truly have a look at these items. pic.twitter.com/TVMB73aRi7
— Ok A L E O (@CryptoKaleo) July 15, 2021
Amid the uncertainty surrounding the biggest cryptocurrency, Kaleo says he expects Bitcoin to finally regain its bullish momentum.
“As soon as once more I’m not buying and selling this vary, I’m comfortable in spot and sitting affected person. As a dealer although it’s vital to continually problem your bias and be ready for any state of affairs….
The bull run isn’t over…”
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