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Title: Dogecoin God Candle on BTC Chart Overdue, Says Crypto Trader
In a recent tweet, renowned crypto trader Kaleo emphasized his conviction that the “god candle” in the Bitcoin pairing chart of Dogecoin is overdue. For those unfamiliar with market terminology, a “god candle” refers to an exceptional and historically rare occurrence where a single candlestick price movement takes place, resulting in an instant massive increase.
As of the article’s publication time, Dogecoin has been stuck within its moving averages (MA) on the one-day chart, having failed to break above or below these levels. According to Kaleo, the cryptocurrency’s current consolidation is unlikely to continue for much longer as it draws closer to a potential golden cross, which would be accompanied by significant price action.
The trader also alluded that such an event could trigger a new wave of bullish momentum for Dogecoin on its Bitcoin chart. In recent news, it has been reported that House of Doge, the official entity responsible for the development and release of Dogecoin, is preparing to enter public markets with the assistance of Elon Musk’s personal lawyer, Alex Spiro.
Source: u.today
