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Wyckoff Accumulation Schematic Points to Bullish Reversal
Crypto analyst Bitcoin Sensus has revealed a technical pattern that is playing out for the Dogecoin price. Based on this pattern, the analyst suggested that the foremost meme coin could soon witness a surge to this crucial level.
Wyckoff Accumulation Schematic
In an X post, Bitcoin Sensus stated that a Wyckoff Accumulation Schematic is playing out for Dogecoin on a four-hour timeframe. He explained that this is a healthy bottom formation for DOGE to be able to sustain a healthy uptrend in the coming months. His accompanying chart showed that the foremost meme coin could rally to as high as $0.24 in the short term.
Trader Tardigrade’s View
Trader Tardigrade also alluded to the Wyckoff Accumulation pattern, suggesting that the bottom was in for DOGE. He stated that this pattern is playing out as predicted, noting that a perfect test was completed. The analyst added that Dogecoin will find LBS soon, and the next will be SOS and BU, which will lead to phase E. His chart showed that the meme coin will break above $0.21 on phase E.
Dogecoin Chart Is ‘Beautiful’
Crypto analyst Master Kenobi asserted that Dogecoin’s chart is a "beautiful" thing. He remarked that events seem to be orchestrated long before they unfold, hinting at a bullish reversal for the foremost meme coin. His accompanying chart also showed that DOGE was looking to rebound and could rally to the much-anticipated $1 price level if it touches the upper boundary of an ascending channel.
DOGE Whales Accumulating
Ahead of this Dogecoin price rebound, DOGE whales are actively accumulating, which is a positive for the foremost meme coin. Crypto analyst Ali Martinez revealed that these whales have bought over 80 million DOGE in the last 24 hours. Whale accumulations like these are known to usually precede a price reversal, suggesting that the meme coin could soon rally.
Conclusion
The technical patterns and analyst opinions suggest that Dogecoin is on the verge of a significant price surge. The Wyckoff Accumulation Schematic, Trader Tardigrade’s view, and Master Kenobi’s chart all point to a bullish reversal for the foremost meme coin. Additionally, the accumulation of DOGE whales is a positive sign for the price. With the Dogecoin price currently trading at around $0.16, investors may be looking to get in on the action.
FAQs
Q: What is the Wyckoff Accumulation Schematic?
A: The Wyckoff Accumulation Schematic is a technical pattern that indicates a healthy bottom formation for a cryptocurrency, suggesting that it is likely to sustain a healthy uptrend in the coming months.
Q: What did Trader Tardigrade say about Dogecoin?
A: Trader Tardigrade suggested that Dogecoin has found its bottom and is poised for a rally. He also noted that the Wyckoff Accumulation pattern is playing out as predicted, with a perfect test completed.
Q: What does Master Kenobi’s chart show?
A: Master Kenobi’s chart shows that Dogecoin could rally to the much-anticipated $1 price level if it touches the upper boundary of an ascending channel.
Q: Are DOGE whales accumulating?
A: Yes, DOGE whales are actively accumulating, with over 80 million DOGE bought in the last 24 hours. This accumulation is a positive sign for the price, as it usually precedes a price reversal.
