Technical analysis by DealerBTC about Symbol DOGE: Buy recommendation (2/10/2024)

It’s been ages since I have discussed Dogecoin. Here are my thoughts. I believe that price has been undergoing major consolidation. The region marked by the red lines between 0.15893 and 0.04914 is a major consolidation region. The region marked in the shaded red box is a minor region of consolidation containing the January 2024 monthly low and current monthly low.As for now, I believe that price is preparing to make a move above the yellow line at 0.08306 and from there would continue to test 0.1073. It is my opinion that clearing above 0.1073 would produce a highly probable move above 0.1589. Hence, that would be a breakout of the major consolidation area marked by the red lines. It is my opinion that Bitcoin is likely to make a new all time high. If Bitcoin were to produce a new yearly high for this current year, I believe the above Dogecoin scenario would be highly probable.Moreover, in the event that Bitcoin pushes for a new all time high, I believe that Dogecoin would make a new all time high of $2.20 if not more.This trade idea is not financial advice. I am not a financial advisor of any kind. Please do your own analysis, responsibly manage your risk, and stay safe.Thanks for hitting the like button, thanks for sharing, and thanks for following!