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In a video evaluation printed right this moment, the crypto chartist generally known as Cantonese Cat (@cantonmeow) laid out a multi-time-frame bullish case for Dogecoin, arguing that the asset is getting into a 3rd main cycle with technicals aligning for an upside break and multi-dollar targets—offered key resistance ranges are cleared. “I’m extraordinarily bullish on Dogecoin. I’m not going to be shy about it,” he stated, including that the present advance appears to be like “loads more healthy than the final cycle.”
Dogecoin Breakout May Shock Bears
Cantonese Cat frames the panorama first on the month-to-month chart, the place the 20-month shifting common has traditionally toggled from resistance to assist at main inflection factors. In his view, Dogecoin is now “form of holding the 20-month shifting common and taking a bit little bit of a stepwise method on the best way up right here, forming general increased highs and better lows.”
He additionally notes a quiet re-entry into the Ichimoku Cloud by way of consolidation somewhat than a blow-off impulse: “We’re presently getting into the Ichimoku cloud right here very quietly by simply going sideways. It is a break in of the cloud and that is bullish so far as I’m involved.”
Structurally, he characterizes the cycle as a classical base-building sequence. “It appears to be like like a giant large cup with a deal with,” he stated, emphasizing that the deal with retraced to a technically “affordable” depth. With Fibonacci overlays utilized, he observes that the pullback reached the 0.382 retracement—in keeping with constructive, mid-cycle digestion—earlier than worth resumed development. Extra broadly, he argues Dogecoin has been respecting Fibonacci pivots in an orderly, trend-like cadence: “Principally, you’re taking three steps ahead, two steps again. It is a very wholesome bull development till confirmed in any other case.”
Associated Studying
On the weekly timeframe, he factors to the confluence of the 20-week easy shifting common and the 21-week exponential shifting common—the assist “band” many crypto merchants monitor—as now appearing as a ground somewhat than a ceiling. “You additionally broke above the assist band resistance over right here and flip into assist. That’s additionally not a bearish factor right here in any respect,” he stated.
The Ichimoku baseline has, in his phrases, been defended “at round 20 cents… very, very effectively for a very long time,” whereas the 20-week common is “curling up,” additional reinforcing the view that momentum is tilting increased. He additionally flags a “double bottom” and a profitable back-test of the breakout zone that, taken collectively, depart him anticipating upside decision: “I feel breakout might be imminent each time it needs to occur.”
Associated Studying
Cantonese Cat underscores multi-time-frame alignment as a key inform. Based on his learn, the 20-period shifting common has been reclaimed on the day by day, two-day, three-day, weekly, and month-to-month charts. The primary near-term caveat is tactical: an “impulsive transfer” has pushed worth “means outdoors the 12-hour bullish band,” which he believes explains the present pause. He additionally acknowledges a diagonal resistance line which may be present process a back-test, however doesn’t see it as thesis-breaking.
DOGE Worth Targets For This Cycle
When pressed by his personal viewers for locations, he distinguishes between situations and targets. He argues that final cycle’s run right into a 2.272 logarithmic Fibonacci extension is unlikely to repeat verbatim. This time, he sees the 1.272, 1.414, and 1.618 extensions as extra realistic markers—ranges he maps to roughly “$1.50, $2.27, and perhaps near $4.”
However he stresses the path-dependency: “These are going to be the requirement for a few of these increased targets to be met” provided that Dogecoin can first clear the deep retracement band on this cycle. “We have to break above the 0.786 and the 0.86 this cycle,” he stated, including that “one degree at a time, $0.41, $0.54, we have to break above these earlier than we are able to actually attempt to entertain a few of these… larger than the greenback targets.”
As for timing, he’s specific about uncertainty at the same time as he reiterates route. “All I can let you know is that Doge might be prepared for a giant transfer up over the next few weeks. I don’t know when precisely that’s going to occur, however I’m fairly bullish on Doge,” he stated. He cautions in opposition to forcing precision on the calendar—“I by no means do any short-dated choices… I don’t wish to play with 3D chess and to be restricted by time”—and as an alternative describes a scientific accumulation technique that has purchased successive increased lows: “The market appears to maintain giving me these increased lows to purchase Doge at. I’m not going to say no to it.”
The analytic through-line is that this cycle’s ascent is extra measured than the final, with development integrity—increased highs and better lows, reclaimed shifting averages throughout time frames, and cloud re-entry by drift somewhat than spike—providing a sturdier base for continuation. Whether or not that in the end extends to “$1.50, $2.27, and perhaps near $4” will, in his framework, hinge on Dogecoin defeating the remaining retracement band and changing it to assist. Till then, he concludes, the burden of proof stays on the bears: “This isn’t a bear development in any respect.”
At press time, DOGE traded at $0.231.
Featured picture created with DALL.E, chart from TradingView.com
