- Bitcoin nears the $63,000 price reclaim area boosting bullish altcoin action.
- Dogecoin the pioneer memecoin asset mirrors its previous bull cycle pattern.
- MultiversX (EGLD) prints a bullish falling wedge pattern.
Bitcoin nears the $63,000 target and altcoins are furiously mirroring a similar bullish outlook for the positive sentiment that blankets Q4. With historical patterns indicating major gains in the moving months, analysts are keeping a close eye on the price action of popular altcoin as well as Bitcoin (BTC).
Bitcoin Nears $63,000 Price Level
Specifically for Bitcoin, expectations for a new ATH begin at $80,000 to $116,000 in the short term and $220,000 to $550,000 in the long term. These expectations are fueled by the many bullish indicators being printed on the BTC price chart from hidden bullish divergence patterns to golden cross patterns.
It is this same bullish sentiment that’s also steadily been seeping into the altcoins sector as well. There are high expectations for many altcoins to set new ATHs in the coming altseason phase of the ongoing bull cycle and many altcoins have already begun to print bullish signs in their charts as well.
DOGE and EGLD Print Bullish Signs
In particular, Dogecoin (DOGE), the pioneer memecoin asset is mirroring its previous bull cycle chart. As we can see from the post below, the analyst calls this bullish indicator the DOGE Williams Alligator.
Here, DOGE price is shown to be completing a converging pattern after the breakout of a long descending trend. He says this is the same pattern as the last consolidation before Massive Bull Run in 2021.
https://x.com/breakout_expert/status/1845334499279978749
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Another altcoin making a positive indicator and setting itself up for a bullish pump soon is MultiversX (EGLD). This popular altcoin is shaping a falling wedge pattern on the 3-day chart. Thus, the analyst expects a breakout to the upside which could mark the beginning of a strong bullish rally.
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