A intently adopted analyst predicts a robust 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.
“Appears to be like like a strong spot to punt a DOGE lengthy.
Bouncing off [high timeframe] help, 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 most important cryptocurrency. In keeping with Kaleo, Bitcoin may bounce as soon as it hits help at $30,000. In a bearish situation, nevertheless, Kaleo sees BTC failing to carry help 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. Folks continuously ask me what it could take to alter 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 worth 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.
Learning market cycles (every little thing I’ve shared) it is troublesome to imagine the bull market is over, however needed to offer a breakdown of how I really have a look at these things. pic.twitter.com/TVMB73aRi7
— Ok A L E O (@CryptoKaleo) July 15, 2021
Amid the uncertainty surrounding the most important 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 continuously problem your bias and be ready for any state of affairs….
The bull run isn’t over…”
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