A carefully adopted analyst predicts a robust Dogecoin (DOGE) surge amid the prevailing bearish sentiment within the crypto markets.
The pseudonymous analyst, often known as Kaleo, says that he sees the meme cryptocurrency skyrocketing 200% from its present worth of $0.17 to $0.51.
“Looks like a strong spot to punt a DOGE lengthy.
Bouncing off [high timeframe] assist, tons of upside… tight/straightforward stops on the draw back.”
As for Bitcoin, the favored crypto strategist maps out short-term bullish and bearish eventualities for the biggest cryptocurrency. According to Kaleo, Bitcoin might bounce as soon as it hits assist at $30,000. In a bearish situation, nevertheless, 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 flip on the Kaleo dealer hat. People continuously ask me what it will take to vary my bias… Basically, one of many eventualities is choice #2 – value retests diagonal, weak bounce, fail 2nd contact.”
Although Kaleo is contemplating the potential 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 imagine we bounce right here. The chart is is extraordinarily just like what AAPL seemed like on the finish of March.
Studying market cycles (all the pieces I’ve shared) it is troublesome to imagine the bull market is over, however needed to present 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.
“Once once more I’m not buying and selling this vary, I’m cozy in spot and sitting affected person. As a dealer although it’s necessary to continuously problem your bias and be ready for any state of affairs….
The bull run isn’t over…”
Disclaimer: Opinions expressed at The Daily Hodl should not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses it’s possible you’ll incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Daily Hodl an funding advisor. Please be aware that The Daily Hodl participates in internet online affiliate marketing.
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