$BTC On Daily Chart, Supply pressure keep decreasing, It is a good signal for the bull market. It seems that the following candles will keep climbing up to test 100K area and even break up. On the 4H Chart, From K2 to K4, It is a strong bullish morning star pattern. It seems that the short-term consolidation had ended. If the following candles close upon K1 or successfully retest the ice line, It will be a good place to buy them.
Today we have the analysis of the king of the meme coins $DOGE which has much better performance than all fundamental crypto assets. This happened because of lack of people holding this coin. Last month was hot for Dogecoin and it looks super bullish. When it breaks ATH and what is the target for current bull run?
Let's take a look at the weekly time frame. Previous bull run, in our assumption, was the wave 1 of the super cycle. After that price retraced to 0.38 Fibonacci level in wave 2. It means that this asset is strong, because most of assets reach 0.618 in wave 2. Inside this support zone 3 green dots has been printed by Bullish/Bearish Reversal Bar Indicator [Skyrexio]. This is very strong reversal sign and the last one triggered the new bullish wave.
This huge rapid growth is the global wave 3. This wave will break ATH in December 2024. Final targets for this wave are 1.61 and 2.61 Fibonacci extension at $1.3 and $2.1.
Best regards, Skyrexio Team
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