- 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
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.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
