The Truth Behind This Dogecoin Rally: Is It Sustainable?

24 nov.

Clickbait alert... There is no mystery behind this rally but nevertheless I shall tell you the truth.

Look at this chart and tell me, what do you see?

This is a long-term chart: DOGEUSDT (Dogecoin) on the monthly timeframe.

This month is a bullish breakout month and the first strong green month since the 2021 bull-market.
If we look back to 2021, when similar action occurred —January; what followed was a very strong bullish phase. Just because we are seeing strong growth it doesn't mean this is the end. In fact, this very strong growth signals the beginning of the bullish cycle so expect more.

When in doubt, zoom out.

➖ This monthly session has the highest volume since 2021.
➖ This month broke a long-term resistance and descending trend.
➖ This month a three years long consolidation period is over.

Three years of consolidation can lead to a very, very strong bull-market which is exactly what we are seeing developing all across the market.

The truth is that it doesn't matter how high Dogecoin goes to this month, this is only the start.

Short-term, there can be swings and shakeouts, and even a strong correction can develop along the way. This is good, these we will used as an opportunity to both take profits (when at resistance —like now) and to rebuy and reload (at support).

Dogecoin has much more to give; the truth is that there is no limit as to how high prices can go.
Money is infinite... And the Cryptocurrency market is still very young.

Open yourself to something great.
If you are reading this now, you are part of the Cryptocurrency elite.
You are a genius and you deserve high profits, maximum wealth and financial success.

Thanks a lot for your continued support.

Namaste.