FREE DOGE ANALYSIS Best Time to Buy - Yello, ladies and | MyCryptoParadise.com
FREE DOGE ANALYSIS
Best Time to Buy
- Yello, ladies and gentlemen !
In the previous update the ParadiseTeam made on December 24th, 2022, we already conducted an in-depth analysis of the crypto market for you and explained why the bottom is already in. We mentioned that new wealthy entities have entered the crypto space, accumulating and absorbing the selling pressure and that a powerful reversal will happen next. Since then, Bitcoin has safely increased in price by 35%
If the current new supports hold, some of the altcoins we are watching in ParadiseFamilyVIP are about to have one of the greatest rallies of their times!
Dogecoin is not the strongest, but its current price action is very interesting. Doge is also well known for burning noob traders who are trying to get rich quick on it, left, and right, so the positive sign is that most have already stopped trading it, and they are not watching that recently Doge formed a rounding bottom and broke the descending trendline from the previous high in 2022. This has turned one of the most vital structures into a major support zone, and its current trend is also supported by 50MA and other indicators.
Right now, we are trading just under the resistance trendline of a bull flag pattern that formed on 1h and Daily timeframe.
We are keeping an eye on a successful retest of the major support level to complete the retracement wave of this bull flag pattern or a breakout above the horizontal resistance to confirm further upward price action.
Once the confirmation triggers we are looking for a strong move towards our resistance levels shown on the chart below, with the highest possible expansion of 57% without leverage, before some bigger pullback takes place.
If we return to Bitcoin, from a higher time frame perspective, $25,200 is the next resistance we expect to be broken, and once it's turned into support, the main target in the next 3 to 6 months is $43k!
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