New Dogecoin Rally … Did You Buy The Dip?

New Dogecoin Rally … Did You Buy The Dip?

hey everybody Chris here so we have a new Dogecoin rally that’s going on trading into the weekend please be sure to subscribe to my channel hit that little notification bell too you can be notified when my new videos come out as well as when I do live streams and we did have a great live stream on Friday watching as the Dogecoin price continued to move upwards and that is continuing into the weekend so what is causing this and where are our targets now going to explore that in this video as well well so let’s go ahead let’s take a closer look at the news and the charts and I’ll show you what I’m looking at and we’ll begin here with the Dogecoin chart looking at 16.7 cents now this was the big rise slow steady rise in the price of Dogecoin that we were looking at on Friday and it continued into the night sort of straightened out right around 15.25 that looked like that was going to be resistance but in this morning came back over retested and then has moved on up touching 17 set so 17 is now the new resistance we will still look at 1525 as being the support let’s look at the 4our chart and we can see this recovery from the dip that we had down here uh I had targeted 12.2 cents actually dipped right below to 12 so that was the loow local bottom that we have and then looking at the daily chart we’ll see that Dogecoin has recovered at least back to where we were the middle of April of course this was when uh that Iran Israel thing was going on in the scare of like World War II causing fear in the markets did you sell during that fear again that’s when you should be buying buying on the dips when there’s fear in the market and now we have this rally that we are recovering from what’s Bitcoin doing and Bitcoin came down to 594 that was my target that we had for resistance back on March 5th dipped just below that now coming up at 64k 64k now appears to be the new resistance level for Bitcoin so what is causing this what is going on well we we look at the the current markets overall almost everything is in the green but it’s really the memes that are running more than anything else right now Doge up 21% floky 18 whiff 16 sheep 10 Pepe 9 jasm 6 so these are kind of the big movers that we have uh going into the weekend let’s look at what Kevin says you have Doge Dogecoin came down did exactly what we said it would retest the 125 Cent level as macro support so far we’re seeing a very nice bounce off that level doge is showing once again that it is one of the strongest performers in this bull market so that is what that’s what Kevin is showing you know the breakout from this from this longer downward Trend that we had into 2023 breakout end of October and now we see you know the big run up in in March and now retesting and ready to continue to move on up if we look at Bitcoin altcoin Sherpa is saying I think if you believe this current low to be the low and that’s what we had with that dip you have a few options for getting in so did you buy that dip of Dogecoin down at 12 cents if not there will be more dips so as the price moves up we will see dips we could have a more immediate dip here in the middle of may we could rise up further and then dip or go on a bigger rally and then dip so which of the dips will you be buying the same can apply to Dogecoin as Dogecoin moves up will it Eclipse over 17 cents and dip back down to some level or is it going to move on up to 1819 cents or maybe back up to 22 cents we could look at this chart the same way between Dogecoin coin and Bitcoin Dogecoin price bottom is in but is Doge ripe to buy amid tasty Outlook among mem coins because it’s not only Doge but again whiff floky Pepe we have others like render and stacks that are moving as well is this the beginning of the true altcoin season of course we know Bitcoin is being fueled by what was the first grayscale inflow more inflows than outflows along with Hong Hong Kong ETFs uh trading as well uh buying Bitcoin last week that kind of sparked the rally but now the money seems to be flowing into alts and we will see that Bitcoin dominance eventually start to move back down right now the dominance is up a little but it’s the memes that are running at a higher rate than Bitcoin dogecoins 280,000 new addresses Traders is this a Buy Signal for you so what do we have well according into the block we’ve got Dogecoin recording a major spike in new Demand on May 2nd alone we had 28,000 new addresses created to trade Doge 100% hike from the monthly low that we saw back in April just on April 29th with this new new Demand with that’s new wallets being created what do we have we have new buyers coming into the market buying Dogecoin so on this dip it appears to be others recognized this was the time to get into Doge or buying Doge and what do we see we see the Dogecoin price moving up this is what we were waiting for is new buyers coming in and helping push Dogecoin up of course a lot of us were also buying on the dip but to make this big move we need more new buyers coming in Dogecoin anticipates breakout for potential 80% run will have flaky and other meme coins are following so according to World of charts Dogecoin appears poised for an upward trajectory so looking at a 4-Hour chart we had this long downward uh run through the month of April from the end of March downward so that downward trajectory we have now broken out of this uh this chart was was was printed down here at about 13.9 is right where they were looking at a potential breakout and we have now confirmed it up to 17 cents already so that is a breakout from this downward trend on the local again this is this is more local loal cuz we know that that that Doge was up here at 22 so we want to get back up to 22 226 where that is and then move past up for a new yearly high from where Doge can then take off further if we zoom out and we look at an even bigger picture Trader tardigrade looks at three previous cycles and what happened with the price of Dogecoin we are mirroring what happened in the past with an overall downward trend of course these are these are monthly uh candles on this chart overall monthly Trend we begin to break out have a new wedge and then break out of that wedge go sideways and then take off again 2018 same thing happened big run at the end of 2017 then we have a downward Channel followed by a mini breakout then we go into a wedge break out of that sideways and then run so what did we just experience from the high in 2021 we had that bare Market through 2022 mini breakout then we went into that wedge and that wedge again was the one that I was showing you uh last summer into early fall we had the initial breakout a pullback so we could Envision some sideways trading like I’ve been talking about through the summer this is going to be the choppiness and then eventually the big breakout that’s the bigger picture exactly what I’ve been predicting we have others now saying look it’s repeating the chart pattern this is where we’re going to see a massive pump coming after this consolidation are you buying the dip will there be another dip because this was a juicy one that we just had so that’s the overall view of Doge right now as we begin the weekend let me know in the comments below what do you think about this movement this rally that we’re having with Doge again a much higher percentage of movement in Doge and other memes that we see in Bitcoin e aland and others this is Dogecoin moving leading a rally is what we have happening now give the video a like if you haven’t already please subscribe to my channel I appreciate the support we’ll see you next time [Music] [Music] [Music]

Dogecoin is leading a new crypto rally – did you buy the dip? I take a look at Doge and Bitcoin in this video and chart new support and resistance lines.

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Outro Music:
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