While the consolidation phase can least up to 9 months, 6-8 months is normally what it takes for this type of Altcoin to go from bullish wave to bullish wave.
The bear market bottom low has been set, this is easy to see:
It happened almost a year ago at $0.4938. The current price trades around 43% higher.
What we are concern with now is the next bullish wave. After the November 2022 peak, we have a long-term corrective phase reaching now 7 months.
First we had a classic zig-zag correction, followed by sideways with a wide range and since mid-March 2023 higher lows.
Once the bull market starts it will be easy to see this current phase as consolidation, because it will become flat on the chart due to the massive growth... The giveaway is the volume.
Notice how in the past 7 months we have high buy volume, green lines/bar, but the bear volume on the drops is always low.
Recently, the volume has come to a halt... When volume drops to almost none, it means that a breakout is really close.
The breakout can happen to either side, up or down but if you look at Litecoin and Polygon, just two example, you can see that they broke up.
Also, Bitcoin's strength is another giveaway and the fact that many of the smaller Altcoins are growing two, three digits within days...
This is all happening because smart money is around, whales are buying, CEX exchanges are buying before the next bullish wave.
In a bearish cycle, we would be seeing red, red, red...
All drops can be used as opportunity to buy-in, rebuy and reload... Once the bullish wave has been going for a few weeks and confidence sets in, secure profits because when things start looking really good, that's when it turns.
When you have boring, doubt, uncertainty and fear, buying can be easily done.
When there is happiness, euphoria, confidence... We are close to the top.
It is a psychological game, a hard one and we have to stay on our feet to be able to stay ahead.
Watch-out for those exchanges removing pairs with just a day of notice... Any real company with a legit mentality would give at the least 1-3 months notice before removing a pair.
Any company that removes a pair overnight, as a surprise, it is trying to shake you off of your hard earned money and this is not good in this game.
Be smart, diversify, use DEX and hardward wallets when you can.
Not your keys, not your coins.
The market will go green again... That's for sure. Patience is key.
The patient ones will be rewarded. The desperate ones will carry the loss.
One thing you should consider is the DOGE/BTC valuation. In Dogecoin's first 2 crypto winters the doge/btc val reverted to roughly the same level. This time it is much much higher currently, i.e. trade cautiously.
AlanSantana
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@The_Bitcoin_Boy, Market cycles. The rest of the market is moving, Dogecoin will also move.