Click to watch the video: https://www.bilibili.com/video/BV17m421E7Px/?vd_source=04332ad6ecefd22ffa3d1b9032b40fb3

Let's first take a look at the monthly chart of Bitcoin. As I mentioned in a previous video, the entire market currently understands that Bitcoin has been continuously rising for 7 months at the monthly level. When it hit the bottom of 20,000 in 2022, I told everyone to buy because generally, if there are 6 consecutive downward candlesticks at the monthly level, we can observe that when it dropped from the high point to the bottom of 20,000, it dropped for 8 candlesticks. We can also refer to Bitcoin's bear market in 2018, where it also dropped for about 6 candlesticks at this point. Or we can observe Bitcoin's historical rise from 2020 to 2021, where it rose for 7 candlesticks at this point, followed by a decline, including Bitcoin's peak at 69,000 during that time.

We can observe its weekly chart. Why did I tell everyone to short at the top of 69,000? We can observe that at the weekly level, it is not necessary to be cautious only when there are 7 consecutive rises or to start buying only when there are 7 consecutive declines. We can observe that in between, there can be 1 or 2 downward candlesticks. Starting from the low point, it rose for 7 candlesticks, and having 2 downward candlesticks in between is also acceptable. Including when Bitcoin rose to this high point in July 2021, the candlesticks here were also around 7, with 1 downward candlestick in between being acceptable.

So, I have noticed that Bitcoin has not only been continuously rising for 7 candlesticks at the monthly level, but we can also observe why there is a turning point at this high point, 74,000, which has not been broken through until now. Similarly, we can count the candlesticks at the 8th position in the weekly chart, and there is currently a short-term turning point.

I don't have a bottom in mind for whether it will fall at this point, but if you want to go long at the current position, you need to consider that it has been continuously rising for 7 candlesticks in both the monthly and weekly charts, so you need to be cautious in your medium to long-term operations.

So, in the candlesticks at the monthly and weekly levels, Bitcoin has been continuously rising for 7 months. If you want to continue to enter long positions or buy spot, you still need to be careful because it's not the right time yet. I myself will only participate in short-term trading recently.

Now let's take a look at the monthly chart of Dogecoin. As I mentioned in the video before, these two candlesticks' rise is similar to the two candlesticks in 2020. I still believe that as long as Bitcoin does not decline, Dogecoin has the potential to break through its historical high this month.

The recent decline is around 0.16, which is also very close to the high point of the descending triangle in front of Dogecoin. We can observe that there was also a significant fluctuation at this position in 2020.

However, we can also observe that in 2017, Dogecoin also had two consecutive rises, and the retracement candlestick of the third one also had a low point with a shadow line in the monthly chart, while also testing the positions of these several high points.

So, as long as Bitcoin does not have a deep decline, Dogecoin's monthly chart may break through its historical high like the candlestick at this position in 2017.

Now let's take a look at the daily chart of Dogecoin. There was a consolidation in the front, and a few days ago, the support near 0.18 was broken, but now Dogecoin has returned to the upper part of the consolidation.

So, in the short term, there is also a consolidation at the current position, which has returned to the upper part of the consolidation. It is currently in a strong consolidation zone, so let's observe the short-term pressure, which is below the bodies of the two candlesticks in March.

If it breaks through this pressure in the short term, combined with Bitcoin's continuous rise, Dogecoin may follow the trend after the consolidation, breaking through higher high points after the consolidation is broken and then rises back. As long as it can rise back after the consolidation is broken, it will break through higher high points.

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you need to learn more about real-time investment strategies, how to get out of trouble, spot contract trading techniques, operation skills, and candlesticks, you can add Master Chen for learning and communication, and follow for free. I hope it can help you find what you want in the currency circle. Focusing on BTC, ETH, and altcoin spot contract trading for many years, there is no 100% method, only 100% going with the trend; daily updates on macro analysis articles across the network, technical indicator analysis of mainstream coins and altcoins, and spot medium to long-term replay price prediction videos.

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