Click to watch the video: Master Chen's 3.4 Video: Can DOGE Reach $1? VEGAS Indicator Estimates Market Top

Recently, Dogecoin has gained a lot of attention since Musk made a public call. Based on my observations, I personally believe that Dogecoin may reach $1 in September this year. In today's video, we will discuss the trends of Dogecoin and analyze the short-term and long-term trends of Bitcoin.

First, let's take a look at the two-week chart of Dogecoin. Some fans have noticed that I haven't updated the market analysis videos for a few days and wanted me to specifically talk about Dogecoin. I have found that the super trend indicator has already shown a buy signal on the two-week chart.

So, these days, some friends have been asking whether Dogecoin has risen too much at its current position or has already doubled, and whether it can still be bought for the medium to long term. I think if you are worried about a decline, then you should start with a smaller position. Later, if there is a decline, you can gradually add to your position. The concern is that the main force may not provide an opportunity to add to the position and may not want to decline at all.

Let's take a look at Dogecoin's position in December 2020. At that time, a buy signal appeared at this position, and we can see how it subsequently rose.

Because Dogecoin is different from other currencies, the main force holds all the goods and determines the price. So, many people have been asking about the market cap if Dogecoin rises to $1 or $10. In fact, I can't say for sure. The same goes for Bitcoin. Many people see this market cap as a primary school math problem. If you want to look at this, it means you may be a novice in the market.

So, it's important to understand that if the chips are all concentrated in the hands of the main force, the price is determined by them. As long as there is continuous new capital entering the market to push up the price, the main force may be able to raise the price as high as they want.

Let's observe Dogecoin's position in 2020. After the buy signal appeared, we can see continuous upward movement, lasting nearly 150 days, with a space of approximately 200 times.

Then, let's look at Dogecoin's position in 2017. Similarly, the main force accumulated a lot of chips in the front, and as long as these goods are in the hands of the main force, the price of Dogecoin is determined by them. So, we can see that Dogecoin broke through this position and continued to rise for nearly 90 days, increasing by approximately 80 times from the low point at that time to the high point.

So, let's take a look at the current trend of Dogecoin. The two-week candlestick has just started to form the first one. We don't know how many candles have risen before this, and they are all very steep rises. I personally think that this position may replicate the trend of 2020, or we can calculate the time. If it really follows the rise of 2020, it will rise continuously for about 150 days, around August.

So, I roughly predict a time. Will Dogecoin's price reach $1 before September? The space to $1 is very close. If the current position rises by 7 to 8 candlesticks, it will be enough to increase by 5 to 6 times to reach $1.

Next, let's look at Dogecoin's daily chart level. The golden cross of the vegas indicators 144 and 169 channels, or 576 and 676 channels, is very important. You must pay close attention to it. It is possible to chase long positions casually within this range, and there will definitely be a high point later, because the vegas on the daily chart only has such an important golden cross every two to three years.

Then, let's take a look at the bottom of Dogecoin in 2020. It also had a golden cross, and then it had an explosive trend, which is very similar to the form of Bitcoin.

Let's take a look at Bitcoin's golden cross at this position in October 2023. The price had already risen for a period of time, but if you continue to buy at this position, there is still room for further increase. So, you can still chase long positions for Dogecoin at the moment and reserve some positions to add when it falls.

Next, let's continue to look at Bitcoin's daily chart level. I have seen some news before. Many institutions and celebrities have predicted that Bitcoin will reach $100,000 in June this year. Because I have seen some phenomena recently, everyone knows that as long as you can buy US stocks worldwide, you can buy Bitcoin's ETF.

So, currently, funds from around the world are buying Bitcoin or Bitcoin's ETF. In the past few days, through my own observations, I have also noticed a phenomenon that Bitcoin currently does not want to fall at all. If it were to fall, it would not maintain such a high position. Is it possible for it to be immediately broken through in the short term?

I think it may continue to consolidate at this position, or we can see the top of Bitcoin at some point. We can also predict its time from this vegas indicator.

Let's take a look at Bitcoin's vegas indicator at this position in 2019. After the golden cross, it is very difficult to have a death cross until the top of 69,000. Calculating from the position of the golden cross to the top, it is approximately 800 to 900 days.

Or we can observe Bitcoin's bottom at this position in 2015. The golden cross also occurs at long intervals. You must pay close attention to such golden crosses. From this position of the golden cross to the top of $20,000, it took approximately 700 days.

So, let's take a look at the current position. In fact, the time may be less than a third. If we take a time of approximately 750 days, it will be around July 2025.

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Candlesticks are king, trends are emperor. I am Master Chen, focusing on BTC and ETH spot contracts for many years. There is no 100% method, only 100% following the trend. Daily macro analysis articles and technical analysis review videos are updated on the entire network. Friendly reminder: Only the public account of the column (pictured above) is written by Master Chen. The advertisements at the end of the article and in the comments are not related to the author. Please be cautious in distinguishing between true and false. Thank you for reading.

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