Bitcoin maintaining its inverse correlation to the US dollar means big wins on the horizon as the dollar strength DXY index trails below key moving averages.

Bitcoin gets 'highly favorable' cues as DXY sets 21-year weakness record

The legislation to establish crypto market structure is one of three bills the 
US House of Representatives is expected to consider starting next week.

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Dogecoin may be gearing up for its next breakout. After holding firm near 
$0.17 on the weekly chart, DOGE recently bounced off key Fibonacci and 
trendline support, hinting at renewed bullish potential. With its 200‑week 
moving average offering steady support and price comfortably above the 
ascending channel, technicals suggest the setup is aligning. If the recent dip 
toward the 200 MA on the M15 chart proves to be a low-risk entry, this could 
set the stage for a retest of the $0.16490 resistance, and possibly more. 
Rejection At Resistance, But Technicals Still Favor Bulls In a recent analysis 
shared on X, Thomas Anderson presented a detailed breakdown of DOGE/USD price 
action across the M15 and M30 timeframes. According to the expert, Dogecoin is 
currently trading at $0.17043, and the price is facing rejection at the yellow 
horizontal resistance line around $0.16490. The price action shows 
consolidation just below this key level, signaling indecision among traders. 
Related Reading: Analysts Predict Major Dogecoin Price Rally After Breaking 
50-Day Trendline Anderson pointed out that the 200 MA (red line) is acting as 
dynamic support from below, helping to anchor the price during the current 
consolidation phase. This moving average support provides bulls the foundation 
to regain control if momentum shifts in their favor. On the M30 chart, 
Anderson noted that the broader bullish structure remains intact, with DOGE 
price holding above the ascending trendline. This technical pattern suggests 
continued optimism for upward movement, provided the price does not break 
below key support areas. Thomas Anderson concluded that any pullback toward 
the 200 MA on the M15 timeframe could offer a buying opportunity, particularly 
for traders eyeing a retest of the $0.16490 resistance. Dogecoin Weekly Chart 
Echoes Elliott Theory’s Bullish Blueprint Taking a closer look at Dogecoin’s 
weekly chart, crypto analyst Andrew observed a notable long-term wave 
structure unfolding. He explained that over the past three years, DOGE has 
completed a five-wave impulse to the upside, which was followed by a typical 
ABC correction, consistent with Elliott Wave theory. Related Reading: Dogecoin 
(DOGE) Eyes Breakout — Can Bulls Unleash the Next Surge? Andrew further noted 
that price found a strong reaction at the 0.786 Fibonacci level, marked by a 
light blue line, which traces the retracement from the entire upward move. 
This reaction suggests that DOGE may have reached a critical support area, 
where buyers could begin stepping in. With this in mind, Andrew believes the 
current structure appears to be forming a larger 1-2 setup, which could lead 
to a powerful Wave 3 advance. If this pattern plays out, it may signal the 
start of a new bullish phase with the potential to break beyond previous 
highs. Featured image from iStock, chart from Tradingview.com

Is Dogecoin Prepping For Takeoff? Fib Reaction And Trend Support Say Yes

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