Expert Predicts Dogecoin Will Increase Parabolically But Requires Patience, Bitcoin Expected to Surge

Crypto analyst Ali Martinez says Dogecoin (DOGE) is gearing up for an exponential price surge that could cause impatient people to give up before it actually happens. Martinez told his 91,000 followers on the social media platform X that DOGE has just given a sell signal on the Tom Demark (TD) Sequential indicator on the weekly chart. The TD Sequential indicator flashes buy and sell signals based on the closing price of a specific period, which in this case is nine weeks. However, Martinez noted that this indicator gave identical bearish signals in 2017 and 2020 just before the price surged to new highs in the cycle and beyond. "DOGE will test your patience in this parabolic price surge! Similar to 2017 and 2020, we have received a sell signal from TD, predicting a short correction before the price surge continues."

Martinez's chart shows that DOGE is in a large price channel that could push the memecoin to $14 if it once again reaches the upper limit of the pattern. At the time of writing, DOGE is trading at $0.42. Switching to Bitcoin, Martinez remains optimistic about BTC despite calls for a correction in the market after a significant and prolonged price increase nearing $100,000. When considering social media metrics mentioning "pullback" and "100K", Martinez said the price may move in the opposite direction to the dominant market sentiment. "Everyone predicts that the price will drop after Bitcoin recovers $95,000 - let's see how often this is mentioned. But the market often moves in the opposite direction to the crowd's expectations." Don't be surprised if BTC goes even higher!

The analyst also reinforces his optimistic position by paying attention to the average cost of mining Bitcoin, which is the amount of money miners have to spend to earn one BTC. "There is a lot of discussion about Bitcoin BTC dropping below $90,000. Remember that the average mining cost is $90,524. Historically, during a price increase, BTC has never dropped below its mining cost.