The post Legendary Trader Peter Brandt Says Dogecoin Breaking Out, Sees Long-Term Constructiveness for DOGE appeared on BitcoinEthereumNews.com.

Veteran trader Peter Brandt says that Dogecoin (DOGE) is set for more upside price action after printing a textbook breakout pattern. Brandt tells his 741,000 followers on the social media platform X that DOGE is in the middle of breaking out from a nearly seven-month-long downward channel. The trader also says that DOGE looks good on the long-term time frame as well. He shares a chart suggesting that DOGE found solid support at the $0.05 level during the bear market and is getting ready for another leg up after cooling off from its breakout in March. “Channel breakout in DOGE/USDT Longer-term chart could be constructive as well Get along little doggie.” Source: Peter Brandt/X At time of writing, DOGE is trading at $0.129, up nearly 4% on the day. Looking at Bitcoin (BTC), Brandt says he still isn’t convinced the crypto king has exited a six-month-long bearish sequence of lower highs and lower lows. The trader believes that Bitcoin will only witness a bullish shift in market structure if it soars above $70,162. “Bitcoin (BTC/USD) continues to be in a sequence of lower highs and lower lows. Only a meaningful close above the Jul highs would change this sequence and officially complete the six-month expanding triangle.” Source: Peter Brandt/X At time of writing, BTC is trading at $65,820, still below the July highs that Brandt deems critical. Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix &nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and…

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Filed under: News - @ September 29, 2024 9:16 am