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It is the third time that Dogecoin is creating the same pattern. A couple of months ago Dogecoin broke out of a symmetrical triangle pattern and is now retesting previous horizontal structure. After we see bullish confirmation on the smaller timeframes, the next parabolic rally will start.
Click chart above to see the detailed analysis👆🏻
Bulls are still overall in control of Dogecoin and it is quite obvious that another bullish cycle will start soon. It seems like Dogecoin is closing below support though so if the next monthly candle is not closing back above, we could see a short term delay first.
Click chart above to see the detailed analysis👆🏻
The higher timeframes on Dogecoin are still pretty clear and Dogecoin is currently just following the previous bullish breakout followed by a retest of the previous structure pattern. If Dogecoin creates bullish confirmation, the next target is simply two digits.
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