A widely followed analyst is expressing bullish sentiment for Dogecoin (DOGE) an Ethereum (ETH)-based decentralized finance (DeFi) protocol amid a bounce in crypto asset prices.
The pseudonymous crypto analyst known as Smart Contracter tells his 211,800 Twitter followers that Dogecoin is looking “crazy bullish” when paired with Bitcoin (BTC).
Smart Contracter says that Dogecoin on the Bitcoin chart has displayed an inverted head and shoulders (IHS) pattern for nearly a year.
“Contemplating simply putting the rest of my Bitcoin into Dogecoin for the next few months at least.
This DOGE/BTC chart most crazy bullish thing I’ve seen in a long time.
Almost a year-long IHS breakout that barely any people are even talking about.”
Dogecoin is trading at $0.075 at time of writing.
Earlier this week, Smart Contracter said that Dogecoin is close to breaking out to the upside on the Bitcoin chart.
“DOGE/BTC so close to breaking a 12-month+ inverse head and shoulder [pattern], having tested this trend line five times already.
When it eventually goes, I don’t think it will come back and give people another chance to get in.
It’s One of The best looking altcoin/Bitcoin charts out there in my opinion.”
The crypto analyst and trader next looks at DeFi protocol, Aave (AAVE). According to Smart Contracter, Aave could explode by over 78% from current levels in under eight weeks.
“I’m stalking AAVE for an entry in the next day or two if I can snag some sub $76.
I think it has put in a significant higher low on [the] daily [time frame] and will head to $150+ in the coming month or two.”
Aave is trading at $83.65 at time of writing.
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