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- #Will BTC Hit a New High?#
BTC has broken past $100,000 and is now consolidating near its peak. What’s your outlook on the next move? With bullish sentiment on the rise, could BTC reach a new all-time high?
#Crypto Market Rebounds#
The crypto market is rallying across the board — altcoins are gaining momentum, and Memecoins are heating up! 🔥MOODENG is up over 100%, while PNUT and VIRTUAL have each gained more than 45%. The total crypto market cap has now exceeded $3.22 trillion!
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Dogecoin breaks through the $0.20 level as the 29-day RSI cycle and wedge pattern align.
Dogecoin (DOGE) has entered a rise to the sky trend, increasing over 12% today and trading above $0.20. This rally follows a 29-day cycle observed by analysts, with the RSI breakout corresponding to previous bullish moves. Volume, momentum, and technical patterns all support further bullish rallies. Technical patterns and indicators indicate continued momentum. According to the analysis prepared by Gemxbt via X, DOGE has surpassed the resistance level of $0.19 with large volume and bullish momentum. The Relative Strength Index (RSI) is currently in the overbought region, while the MACD also supports the strength to continue rising.
DOGE is holding a support level of $0.18 and the next resistance level is $0.20. Data from TradingView shows a breakthrough from the descending wedge pattern formed since February. This technical setup is often followed by a strong bullish rise.
Trader Tardigrade has also analyzed the DOGE/Total chart over the last 3 days, identifying a repeating wedge structure similar to the one from 2024 that led to a rally of 300%. The RSI on the daily chart continuously shows bullish strength simultaneously during previous cycles, reinforcing the timing of this move. Derivatives activity and ETF developments drive trader interest According to CoinGlass, DOGE witnessed a rally in open interest of 18%, reaching $2.17 billion. Short liquidations reached $11.3 million, indicating that a short squeeze supported the bullish move. Trading volume also surged over 74% to $4.5 billion, showing strong market participation. Javon Marks has reported a breakthrough on the long-term wedge pattern with a target of $0.30 in the short term. His chart indicates a projected move of over 250% from the current level. Additionally, DOGE continues to attract the attention of institutions.
21Shares recently filed for an ETF on Nasdaq for a Dogecoin trading product. This application is still under review but has contributed to increasing investor interest in DOGE. The daily chart shows an inverse head and shoulders pattern with a breakout target of $0.24 if the bullish momentum continues.