CandleFocus Crypto Strategist Hints at Rallies for Dogecoin and Altcoins, Says Alt Market Goes As DOGE Goes
2024-09-15
Author: Content Editor
The trader known as TechDev believes that Dogecoin (DOGE) is set for significant price growth, comparing its current pattern to the 2020 cycle. The trader shares a chart indicating that DOGE is on the verge of breaking a key resistance level, potentially leading to a surge in value. TechDev also suggests that DOGE's performance could influence the broader altcoin market. Meanwhile, TechDev also predicts that Bitcoin (BTC) is preparing for the final leg of its cycle. Using a metric comparing Chinese 10-year bonds and the seasonally adjusted US money supply, the trader argues that Bitcoin tends to reach cycle highs when global liquidity metric rises. Another chart supports the trader's bullish stance on BTC, as it appears to follow a similar pattern to its 2016 cycle. The trader notes that Bitcoin reached highs of $20,000 during the previous cycle, and it is currently valued at $60,241.
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