A Top Trader Sees a Bullish Signal for Dogecoin (DOGE) and Updates Outlook on an AI-Related Altcoin
A trader who accurately predicted the end of Bitcoin’s bear market in 2018 has identified a bullish signal for Dogecoin (DOGE), one of the top meme cryptocurrencies. According to the pseudonymous analyst Bluntz, the DOGE/BTC pair is showing a strong bullish reversal signal on the weekly chart. This indicates that DOGE’s bulls are gaining momentum despite the overall downward or sideways trend of the price. Bluntz believes that this bullish divergence could be an opportunity to invest in Dogecoin.
DOGE/BTC Weekly Chart Shows Bullish Divergence
Bluntz points out that there is significant weekly bull divergence on the DOGE/BTC chart. This suggests that Dogecoin may experience a bullish reversal in the near future. The analyst initially avoided investing in DOGE, expecting greater returns from other cryptocurrencies like WIF. However, the strong bullish signal on the DOGE/BTC chart has prompted Bluntz to reconsider and potentially acquire some Dogecoin.
FIL: A Promising Altcoin in an Accumulation Range
Bluntz is also closely monitoring Filecoin (FIL), the native asset of a decentralized storage network. He believes that FIL is still in its early stages as it trades within a multi-year accumulation range. Despite recent price increases, FIL remains within this accumulation range, indicating potential for further growth. Bluntz sees promise in FIL and suggests that it could be worth considering as an investment opportunity.
Current Prices and Performance
- At the time of writing, DOGE/BTC is trading at 0.0000023 BTC ($0.14).
- FIL is currently valued at $9.05, with a 9% increase in the last seven days.
Hot Take: Bullish Outlook for DOGE and FIL
Overall, Bluntz’s analysis suggests that Dogecoin and Filecoin have potential for positive price movements in the future. The bullish signal on the DOGE/BTC chart indicates a possible reversal for Dogecoin, while FIL’s position within an accumulation range suggests room for growth. Crypto investors may want to keep an eye on these assets as they could present profitable investment opportunities.
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