What Is Happening with Bitcoin and Dogecoin??
Bitcoin and Dogecoin are still stuck in this massive accumulation zone. Bitcoin is still holding at a 22.5 billion dollar valuation and the volume is pretty much stagnant.
We’re not seeing any crazy volume with Bitcoin, Dogecoin or any of these altcoins
This is happening throughout the market. We need to break back above 46K and then we have to get above this barrier, which is roughly sitting at roughly 47.5K.
Everyone’s bearish, everyone’s fearful. And when you take a step back, this is just an accumulation between resistance and support.
Once again, it’s more likely that we’re not going to break under this and we’re going to get a bounce here in the immediate short term and start to rally back to the upside.
And what are we looking at for Dogecoin?
We’re building a triple bottom formation and we are pretty much stuck in the mud. We are doing the exact same thing that Bitcoin is doing. We are basically had this great foundation at 16 cents, where we say right now between 16 cents and 17 cents. This is a great foundation of support we’re building. And then breakout 19 cents.
But we do have a lot of work to do, we are going to need Bitcoin in the overall crypto market to flip back to being bullish before we can see this breakout and a massive run up. If we break 19 cents, you can see we can break up the 22 cents, 24 cents and we will talk about those price targets.
But right now 19 cents and is that level of resistance and the level of support is roughly at 15 cents. So we are looking at the exact same thing for Bitcoin and for Dogecoin. We are just in range bound for Bitcoin is between 52K and 45.5K. And then for Dogecoin, it is between 19 cents and 15 cents.