Crypto Strategist Anticipates Surges for Dogecoin and Other Altcoins, Links Altcoin Market to DOGE’s Performance
A well-known crypto strategist has hinted at potential significant rallies for Dogecoin (DOGE) and other altcoins. With a growing following for his macro crypto predictions, pseudonymous analyst TechDev highlights that DOGE seems to be following a pattern observed during the 2020 cycle.
Presenting a chart to his 467,500 followers on X, TechDev indicates that DOGE appears to be successfully flipping a crucial resistance level into support ahead of a potential upward surge.
Furthermore, the analyst suggests that the altcoin market is also poised for significant gains, arguing that the alt market’s performance is closely tied to that of DOGE.
As of now, DOGE is trading at $0.106, showing a slight decrease for the day.
Shifting focus to Bitcoin, TechDev shares a chart suggesting that BTC is gearing up for its final bullish leg in the current cycle.
The analyst’s chart implies that Bitcoin tends to reach cycle highs when a global liquidity metric, comparing Chinese 10-year bonds (CN10Y) to the US money supply (M2NS), surges rather than declines.
To support his positive outlook on BTC, TechDev presents another chart that indicates similarities between Bitcoin’s current cycle and its performance in 2016. The chart shows that, similar to 2016, Bitcoin has completed an ABC corrective move on the two-month time frame. Additionally, the relative strength index (RSI), a momentum indicator, appears ready for a recovery after cooling down from 68 to 62.
During the 2016 cycle, Bitcoin experienced an explosive rally, propelling its value from around $300 to a high of approximately $20,000.
Presently, BTC is valued at $60,241.