I know, a lot of people are already freaking out about Dogecoin because of the recent dump of more than -25%. But we just witnessed a rally of more than +500%, so give this coin some room to breath. Everything remains 100% bullish, even if we see another short term pullback.
Dogecoin is once again approaching the previous all time high but so far this structure is still acting as a quite significant resistance area. If we actually see the overall expected all time high breakout, Dogecoin will most likely immediately rally another +100%, creating new all time highs.
Dogecoin is still perfectly respecting market structure and after last month we saw the overall expected short term rejection at the previous all time high, we are now seeing a lot of indecision. It is rather likely that Dogecoin will retest the next support first before we see the next bullish impulse.
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