$DOGE
Dogecoin has been acting a bit strange lately, with the price sliding downwards. This is also within reason, as it had previously skyrocketed for more than two months. Now, it's like running a marathon, needing to catch its breath and enter a phase of adjustment.
But speaking of which, from the perspective of those professional technical analysis angles, Dogecoin, the 'internet celebrity coin's' big brother, still has two brushes in the long run, and its potential for growth is still quite strong.
Let's take another look at the Dogecoin chart from the past two weeks, just like watching a movie, frame by frame. By taking such a careful look, hey, I found that if Dogecoin could exert all its strength and break through that 1.0 Fibonacci checkpoint, its price might just see a huge leap of 570%! That's not a small amount; it's like riding a rocket!
Fibonacci expansion indicates a bullish trend.
Dogecoin, this guy, has now reached its third 'peak moment' in history, and the upward momentum is fierce. Let's take a look back at the previous two 'highlight moments'. Following that trend, Dogecoin might just soar by 570% from its current price, which would be a fantastic spectacle!
Speaking of which, the number 1.618 in the Fibonacci expansion indicator is something I've been keeping a close eye on, as it is like Dogecoin's 'target line'. Why do I say this? Because in the previous two cycles, every time Dogecoin climbed out of the bear market lows, it managed to break through this line, which is simply its 'lucky number'. It seems that for Dogecoin in a bull market, breaking through this line is like a daily routine.
Take a look at the chart below; Dogecoin is like riding a roller coaster, first bouncing a bit on the stable 'seat' support level, which is the 'routine operation' of the bear market. Then, 'whoosh', it shoots up into the sky, even leaving the previous 'highest point' of the last cycle behind. Now, this third cycle is also playing out according to this script.
However, before Dogecoin could charge at that 'difficult barrier' at the previous high point of $0.7316, it encountered quite a few 'roadblocks', especially in early December, when the price slid down like a slide to around $0.475, and then began to 'rest'.
Currently, the price of Dogecoin is $0.316, which is about half of what it was on December 8, and it has also dropped 12.5% over the past week. However, let's not rush; based on previous 'patterns', this guy Dogecoin is very likely to rally again, breaking through that Fibonacci extension level and refreshing its 'highest record'.
The price of Dogecoin will exceed $2.8.
Dogecoin, this guy, has a price trend that resembles a carefully choreographed dance, elegantly leaping from the 'depths of the bear market' step by step to those critical 'Fibonacci stages'—especially under the two shining 'spotlights' at 1.0 and 1.618.
Now, the challenge before Dogecoin is to leap over the '1.0 Fibonacci threshold' at $0.569. Once it successfully crosses, hey, it would be like opening a 'mysterious door' to historical highs, and the bulls of Dogecoin could charge towards those once 'high peaks' with full confidence.
If Dogecoin continues its elegant dance and follows the previous rhythm, it is very likely to push through the 1.618 'expansion stage', with the price soaring to around $2.28. By that time, Dogecoin's upward journey would be 'as high as the sky allows birds to fly', and it might even touch unimaginable higher price realms.
In the upcoming layout direction, I will lead everyone to aim for the lucrative opportunities in altcoins, especially those with great potential, with an expected space of over 10 times being no problem. If you want to make big money in a bull market, like and leave a message, and I'll take you to layout the entire bull market!
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