A cryptocurrency trader that is closely followed by the community believes that Dogecoin (DOGE) is about to garner the attention of other cryptocurrency dealers.
According to the pseudonymous expert Kaleo, who has 571,100 followers on Twitter, the DOGE chart appears to be getting ready for a surge to the upside. According to Kaleo, it is unlikely that Dogecoin will continue to trail behind other alternative cryptocurrencies for very long.
“I’m still going to ride with this DOGE king till it gets a good squeeze,” said the rider. The chart appears to be in too good of shape not to.
Dogecoin will have its moment because too many alternative cryptocurrencies have already been squeezed. Once more, you should intend on fast rotating back into BTC, but you should keep in mind that there’s still potential for a profitable scalp.
It is also important to keep in mind that when DOGE moves, the change typically occurs all at once; therefore, it is preferable to enter the market when it is stagnant, such as it is now. At the time of this writing, the price of Bitcoin is $0.775, which is slightly over the trader’s diagonal resistance level of approximately $0.765.
The leading cryptocurrency trader is also revising his forecast for Bitcoin’s short-term price movement (BTC). According to Kaleo, Bitcoin appears to be in a good position to break through numerous resistances on the lower timeframe and stage a rally above $30,000.
“AND BOOM THAT IS HOW IT’S DONE BOUNCE RIGHT OFF $27,500,” the speaker said. Now is the moment to gradually work your way back toward the highs, recoup $29,000, and start accelerating towards full send.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.