Major Spike Predicted Amid Market Volatility

Prominent
crypto
analyst
Trader
Tardigrade
recently
posted
his
evaluation
of
Dogecoin
(DOGE)
on
X
where
he
provided
a
comprehensive
analysis
of
the
altcoin’s
situation.
DOGE,
in
the
Wyckoff
Accumulation
pattern,
Tardigrade
explains
that
it
is
going
through
its
Phase
D
that
is
elongated
mainly
by
general
market
volatility.

Tardigrade
points
out
the
basic
components
of
Wyckoff
events
that
are
now
traceable
in
the
DOGE
trading
chart.
However,
he
finds
out
that
Doge
is
in
some
ways
grapping
with
the
other
expected
stage
of
the
Wyckoff
Accumulation
despite
the
market
volatility.
Knowing
that
price
is
often
set
to
rise
during
this
phase
means
that
DOGE
combines
the
components
required
for
a
sustainable
and
significant
upward
trend.

DOGE
Breakout
To
Resistance
Levels?

Analyzing
the
situation,
Trader
Tardigrade
emphasizes
that
the
price
of
Dogecoin
will
probably
grow
to
the
projection
of
the
resistance
lines
soon.
This
is
expected
to
translate
to
the
SOS
as
well
as
the
BU
and
the
LPS
of
the
Wyckoff
cycle
before
the
completion
of
the
cycle.
They
are
very
important
for
identifying
phases
in
the
Wyckoff
method
that
are
indicators
of
transition
from
accumulation
to
markup
phase,
in
which
large
increases
in
prices
are
expected.

The
Wyckoff
Accumulation
pattern,
named
after
its
creator,
Richard
D.
Wyckoff,
is
a
technical
analysis
pattern
that
involves
four
distinct
phases:
bundling,
resale,
arbitrage,
and
pricing
down
the
channel.
Currently
in
the
Phase
D,
as
per
Tardigrade
Dogecoin
itself
is
showing
classical
signs
of
supply
side
absorption
which
are
indicating
towards
the
next
phase
of
uptrend.

It’s
important
for
traders
or
investors
with
the
objective
to
gain
the
highest
possible
return
on
investment
to
understand
these
phases.
The
awareness
that
Phase
D
has
been
finished
and
the
move
to
Phase
E
(mark-up)
can
serve
as
the
optimal
time
to
develop
a
particular
market
position.
According
to
Tardigrade,
potential
benefits
for
those
who
chime
their
position-taking
strategies
into
these
phases
exist.

Additionally,
unlike
before,
Tardigrade
points
out
that
despite
the
volatility,
the
general
market
trends
have
laid
the
ground
work
for
coin
to
finish
the
Wyckoff
cycle.
Once
the
coin
crosses
the
resistance
bands,
it
is
believed
that
the
state
will
be
well
built
for
new
advancements.
This
prediction
is
coherent
with
similar
observations
in
other
assets
which
are
characterized
by
the
Wyckoff
Accumulation
model.

For
those
who
are
willing
to
invest
with
a
view
to
make
profits
based
on
this
expected
trends,
it
is
advisable
to
observe
the
compliance
of
Dogecoin
to
Wyckoff
events
as
a
means
of
identifying
entry
and
exit
points.
According
to
Trader
Tardigrade,
a
quite
detailed
plan
of
how
the
situation
should
and
can
change
looks
at
the
market
to
support
the
opinion
that
DOGE
can
breakout
at
any
time.