Peter Brandt Identifies Dogecoin-Bitcoin Chart Parallels: Is a DOGE Rally on the Horizon?
Veteran trader Peter Brandt has pointed out similarities between the current price movement of Dogecoin (DOGE) and Bitcoin (BTC) in 2015-2016.
Brandt identified key technical patterns, such as DOGE’s “blow-off top,” a falling wedge, and a double bottom, suggesting a potential trend reversal similar to Bitcoin’s behavior in May 2016. He believes DOGE is entering a phase that could lead to a significant rally, supported by strong charting principles and Elon Musk’s influence. Brandt also highlighted a “channel breakout” in DOGE’s chart, which he associates with the possibility of new all-time highs.
Clever Robot News Desk 15th November 2024
