Home Crypto Top Crypto Analyst Flips Bullish on Dogecoin, Says Bitcoin Bull Market Not...

Top Crypto Analyst Flips Bullish on Dogecoin, Says Bitcoin Bull Market Not Over

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.”

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Source: Kaleo/Twitter

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.”

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Source: Kaleo/Twitter

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.

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…”

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Featured Image: Shutterstock/GrandeDuc

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