Trader Says Bitcoin To Go Higher Once BTC Climbs Above One Resistance Level, Maps Path Forward for Dogecoin and Three Other Altcoins
Cryptocurrency analyst and trader Ali Martinez says that Bitcoin may enter an uptrend if BTC can smash through a key resistance level.
Martinez tells his 154,400 followers on X that Bitcoin may soon break through the $113,000 resistance level after two recent failed attempts.
“Breaking past $113,000 sets Bitcoin BTC on track for $116,000 and possibly $119,000.”
Source: Ali Martinez/X
Bitcoin is trading for $111,428 at time of writing, down 1.2% on the day.
Next up, the trader says memecoin Dogecoin ( DOGE ) may break out of the upper bound of an enduring trading range.
“Dogecoin targets the top of the channel at $0.242!”
Source: Ali Martinez/X
DOGE is trading for $0.23 at time of writing, up marginally in the last 24 hours.
The trader also says that peer-to-peer payments project Stellar ( XLM ) is suddenly flashing bullish based on the SuperTrend indicator, which is used in technical analysis to determine market direction and potential entry or exit points.
“XLM flipped bullish for the first time since August 25th, according to the SuperTrend indicator.”
Source: Ali Martinez/X
XLM is trading for $0.37 at time of writing, down 2.1% on the day.
Next up, the trader says that the native token of decentralized perpetuals exchange Hyperliquid ( HYPE ) may increase more than 28% from its current value after breaking out of an ascending triangle pattern on the daily chart.
“HYPE breaks out, targets $67!”
Source: Ali Martinez/X
HYPE is trading for $52.24 at time of writing, up 1.4% in the last 24 hours.
Lastly, the trader says the meme token Pudgy Penguins ( PENGU ) may be forming a bull flag pattern on the daily chart and may increase more than 172% from its current value.
In technical analysis, a bull flag is viewed as a continuation pattern, indicating that an asset is consolidating and gearing up for a fresh rally.
“PENGU is breaking out of a bullish [pattern], entering a new leg up to $0.09!”
Source: Ali Martinez/X
PENGU is trading for $0.03305 at time of writing, down 2.4% on the day.
Featured Image: Shutterstock/cobalt88
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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