Dogecoin Forms A ‘Nasty Triple Top’: Analyst Reveals What’s Next

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Dogecoin Forms A ‘Nasty Triple Top’: Analyst Reveals What’s Next - NewsBTC

Quick Summary:

Where Bitcoin goes, Doge will go in the short term.” Analyzing the 4-hour chart, Kevin identified a “nasty triple top” at the macro 0.786 Fibonacci level for Dogecoin—a bearish signal that could indicate upcoming downward pressure.

Kevin emphasized that until this level is “broken cleanly and violently, there’s nothing to get overly crazy about.” He also pointed out that Bitcoin (BTC) is at major resistance, suggesting that Dogecoin’s next significant move will likely coincide with Bitcoin clearing the $100,000 mark.“Until then, everything’s just gonna mosey around,” he noted.

That’s a 30-40% correction from the local top, which in a bull market is a perfect size correction.” Focusing on the longer-term perspective, Kevin highlighted the significance of the upcoming monthly candle close.“The next big goal for Dogecoin is to close a monthly candle in 11 days above $0.335.