Bitcoin’s (BTC) recent UPTREND has probably set the stage for a six-digit price tag that catalyzes increased trading activity in the MEMECOIN sector, where DOGE and SHIB look bullish activity.
BTC, the leading cryptocurrency with market value, peaked card $ 95,000 shortly before pressing time, the highest since March 2, Coindesk data shows. The move comes three days after prices crossed over the Ichimoku Cloud Momentum indicator, signaling a bullish shift in the market trend.
Supporting the constructive prospects are the consecutive daily candles with long tails (marked with box), suggesting to buy the dip mentality and the upward sloping five- and 10-day simple movement average (SMA). In addition, the daily map prints MACD histogram higher rods above the zero line to suggest strengthening the momentum upwards.
In other words, the path with the least resistance is probably on the higher side, which suggests a continued move higher to $ 100,000, which is also the most popular call option on dismissal. De Bullish Outlook risks negation under $ 88,800, the previously resistance-facing-supporting.
AI’s takeover of Shib and DOGE
In the midst of this bullish background for Bitcoin, Coindesk AI Market Insight Bot has identified a breakout in Shib, the world’s second largest meme coin, which suggests increased risk taking in the wider crypto market.
“Bitcoin’s rise over $ 92K has triggered increased Memecoin trade, with Shib breaking out an annual falling channel and showing bullish technical indicators,” Bot said. “Shib has shown unique volatility with a price -gap of 15.6%, establishing strong support of 0.00001225 after the bottom on April 21.”
The diagram shows that Shib has topped the trend line that characterizes that year to date downward and appears to establish a foothold over the Ichimoku cloud after BTC’s lead. It would confirm the trend reverse higher.
Meanwhile, Dagge, the world’s leading cryptocurrency with market value, could soon follow, with the AI bot pointing to investor collection around 18 cents.
“Recent price action shows consolidation above 0.180 with declining volatility, suggesting accumulation before [bullish] Continuation, “Bot said.
DOGE has risen over 35%since they explored low under 13 cents on April 7.
