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Another Parabolic Rally on the Way for Dogecoin if History Repeats, Says Crypto Strategist – Here’s His Outlook

A closely followed crypto analyst believes top memecoin Dogecoin ( DOGE ) is gearing up to unleash another parabolic rally. Crypto strategist Ali Martinez tells his 103,200 followers on the social media platform X that Dogecoin may be following in the footsteps of its 2017 and 2021 market cycles when the memecoin ignited a meteoric ascent after witnessing a severe correction. “In 2017, when Dogecoin began a parabolic run, it surged 212%, retraced 40%, then rallied 5,000%. In 2021, it went up 476%, retraced 56%, then skyrocketed 12,000%. Now, in 2024, DOGE is up 440% and has retraced by 46%. If history repeats, another parabolic rally is on the way!” Source: Ali Martinez/X Looking at the trader’s chart, it seems that he predicts Dogecoin will soar above $1 if his parabolic rally materializes. Zooming in, Martinez says DOGE is flashing a bullish signal on the daily chart based on the Tom DeMark (TD) Sequential Indicator. Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. “The TD Sequential presents a buy signal on the Dogecoin DOGE daily chart, anticipating a price rebound!” Source: Ali Martinez/X At time of writing, DOGE is worth $0.32. Turning to Bitcoin ( BTC ), the trader says that the crypto king may be mirroring its early 2024 price action when it breached an immediate support level before triggering new rallies. “Throw it back! Bitcoin BTC.” Source: Ali Martinez/X Based on the trader’s chart, he seems to predict that Bitcoin will briefly dip below $90,000 if it follows the early 2024 pattern. At time of writing, Bitcoin is worth $94,133. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Another Parabolic Rally on the Way for Dogecoin if History Repeats, Says Crypto Strategist – Here’s His Outlook appeared first on The Daily Hodl . Bitcoin.com

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Bitcoin Price Targets Key Breakout: Bulls Eye Upside Momentum

Bitcoin price started a decent increase above the $96,000 level. BTC might continue to rise if it clears the $100,00 resistance zone. Bitcoin started a decent upward move above the $96,000 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $98,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $96,000 support zone. Bitcoin Price Could Regain Momentum Bitcoin price started a decent upward move above the $95,000 resistance zone. BTC was able to climb above the $96,500 and $97,000 resistance levels. The pair cleared the $98,000 resistance level and traded close to the $100,000 resistance level. A high was formed at $99,400 and the price is now consolidating gains. There was a test of the 23.6% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. Bitcoin price is now trading above $96,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $99,200 level. The first key resistance is near the $99,500 level or the recent high. A clear move above the $99,500 resistance might send the price higher. The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $102,200 resistance level. Any more gains might send the price toward the $103,500 level. Another Decline In BTC? If Bitcoin fails to rise above the $100,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $98,200 level and the trend line. The first major support is near the $96,000 level or the 50% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,200 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $97,000, followed by $96,000. Major Resistance Levels – $99,000 and $100,000. Bitcoin.com