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A crypto market commentator behind the High Altitude Investing YouTube channel said Dogecoin may be setting up for a sharp upside move, citing a combination of short-term technical signals and a longer-term chart pattern he argues resembles earlier breakout structures seen in Bitcoin and XRP.
In a video posted April 17, the analyst framed Dogecoin’s current setup as both a near-term trading opportunity and a broader cycle call. He argued the coin’s correction may be complete and said Dogecoin could ultimately target levels above $2, with a more aggressive long-range scenario reaching $3 to $5.
The near-term case is based on technical analysis. On the daily chart, the analyst said Dogecoin has completed a “perfect ABC correction,” with wave A, wave B and wave C now in place. He also pointed to bullish divergence on the MACD, calling the combination “a very strong buy signal for this coin” that “should lead to a nice move in the shorter timeframes in the near future.”
He further cited a breakout on the 45-minute chart. According to the analyst, Dogecoin had been trading inside a triangle pattern before moving higher. “We broke bullish out of this triangle,” he said, adding that it is “a super super good signal on the 45-minute timeframe” for the coin to start climbing in the shorter term.
For the broader thesis, the analyst referenced higher timeframes. Looking at 10-day candles, he argued Dogecoin is deeply oversold on the MACD, comparing the condition to a prior low that preceded a sizable rally. In his view, the setup positions the coin to move back toward higher resistance zones.
The video then shifts to a longer-range “fractal” argument. The analyst said Dogecoin is tracing “the exact same pattern that Bitcoin followed before Bitcoin pumped and went vertical in 2021,” describing a sequence of an initial surge, a steep correction, a second rally and another pullback before a larger move.
He extended the comparison to XRP as well, arguing the token followed “the exact same fractal” before its 2024 advance. “So not only Dogecoin, but Bitcoin and XRP have all done the same exact pattern before,” he said. “So this is a common pattern in crypto and I am expecting a big bullish move on Dogecoin based on this pattern.”
Using Fibonacci extensions and comparing Dogecoin’s structure with Bitcoin’s prior cycle, the analyst said Dogecoin “could easily go up towards the 3.618,” which he placed at more than $2 per coin.
He also framed the call as partly macro-driven, arguing that crypto remains in a long-term growth phase and that traders focused too narrowly on week-to-week headlines may miss a larger move. He said the outcome would depend on the broader market backdrop, but maintained that if the next leg higher materializes, Dogecoin would not be left behind.
At press time, DOGE traded at $0.10.
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